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Thursday, September 22, 2011

The Evolution and Stability of Over-confidence

For decades, heterodox economists have respected and studied the power of uncertainty on bubbles and bursts - and finally, after (during?) the Great Recession, the mainstream is paying it the attention it deserves.

Here's the same topic from an evolutionary biological perspective. Take a dash of history, and a healthy chunk of game theory, and you have one interesting read!

Take THAT Rational Agent Theory!