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Customer Reviews:Average Customer Rating: Economy for those who have given up Risk is a key issue in money affairs and this tome gets all round under over and inside this important issue. The rise of risk management Huge enterprises and vast industries now depend on complex risk management techniques. Against the Gods explains the origins of those techniques. The text starts with Renaissance gamblers, moves through the Victorians with their fascination with measurement, and into our age of precision. Risk education I found this book very enjoyable. The author writes about the origins, and, most importantly, the evolution of risk. It starts with ancient times and takes us to today's financial world. I really like how he explained the evolution of risk management from primitive ways to more complex and sophisticated methods. It also features certain individuals who contributed to the development of theories about risk and probabilities. I think that readers who are interested in learning more about risk will find this book valuable. math teachers delight Great book for a math teacher who delights in the historical minutia that can enhance the teaching environment as well as a philosophical approach to why and how people make decisions. Somewhat interesting read in the history of quantifying financial risk The author has done extensive research and provided a historical account of the academic study of quantifying financial risk. It starts at the beginning of the Arabic numeral system all the way to the Black-Scholes options formula. The book is generally interesting from the historical perspective. Yet it suffers from a few flaws: (a) the grandiose claim that modernity depends on this quantification is grossly exaggerated and not justified in the text(seems like a common suffering of tunnel vision shaped by the narrowness of your own field), (b) certain account of the theory is not quite right, although the general gist is correct, (c) narrowly focused on financial risk, (d) generally missing the issues about non quantifiable risk, feedback mechanisms in the markets, and the variety of cognitive failures not captured by a nice Gaussian distribution, (e) only celebrates successes of the theories while ignoring its often monumental failures. That said, if you take it for what it is (i.e., ignoring the Grandiose Title of "Against the Gods" and know it is a narrowly focused discussion of a branch of math/finance theories), then it is probably worth a read. I would recommend continuing with Taleb's Black Swan to see a completely different perspective after you finish with this one. | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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