I don’t recall which painting first caught my eye. What I do know is that the moment I saw it I was moved. Unknowingly the painter has painted my portrait.
When you’re working with quantitative models of derivatives or look at the graph of a timeseries the underlying reality can fade into the background. But you should never forget that at the end of the day you’re dealing with real money, not numbers, equations or second order moments and that your model is just a stylized representation of the data.
If you read this you will probably already have heard something about 4 Months, 3 Weeks, 2 Days or perhaps even have seen it.
The following passage from What Is the What, Dave Eggers’ fictionalized account of the life of Valentino Achak Deng, one of the most notable books of 2007, offers an interesting window onto the economics of brideprice.
Proving once more that Imperfect Knowledge Economics by Roman Frydman and Michael D. Goldberg is one of last year's most topical books in economics.