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Knight Reconsidered: 'Future of Finance Beyond Flash Boys': Risk Modeling for Managing Uncertainty in an Increasingly Non-Deterministic Cyber World

2015; RELX Group (Netherlands); Linguagem: Inglês

10.2139/ssrn.2590258

1556-5068

Yogesh Malhotra,

Big Data and Business Intelligence

This presentation reconsiders Knight's Risk, Uncertainty, and Profit of 1921 in light of the emergence of the World Wide Web in early-1990s, Emanuel Derman's pioneering work in Model Risk Management at Goldman Sachs in mid-1990s, backlash against quantitative models in aftermath of the Global Financial Crisis of 2007-2009, and the post-Snowden Cyber era starting around mid-2013.