Physics Envy

June 29, 2009 at 2:30 pm Leave a comment

“Economists suffer from a deep psychological disorder that I call ‘physics envy’. We wish that 99 percent of economic behavior could be captured by three simple laws of nature. In fact, economists have 99 laws that capture 3 percent of behavior. Economics is a uniquely human endeavor …”
Andrew Lo, a professor of finance at the Massachusetts Institute of Technology

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Entry filed under: Reposts.

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