For much of the twentieth century, investors looked at risk through a narrow lens. They judged each security on its own, asking whether a stock seemed volatile or a bond appeared secure. The common ...

There's a reason Wall Street firms recruit from MIT. For many investors, the financial markets are governed entirely by mathematical equations applied to aspects of a security's price and trading ...

Presenting a mix of conceptual analyses and applied problems, this book provides useful insights into the economic rationality of decision-making under uncertainty.