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February 28, 2013 05:13 pm PST
Original Link: http://feeds.boingboing.net/~r/boingboing/iBag/~3/WMpN3njAhl8/why-its-smart-to-be-reckless.html
Game theory and bad behavior on Wall Street
An opinion piece by Chris Arnade on the asymmetry in pay (money for profits, flat for losses), which he describes "the engine behind many of Wall Streets mistakes" That asymmetry "rewards short-term gains without regard to long-term consequences," Chris writes in a new guest blog at Scientific American. "The results? The over-reliance on excessive leverage, [...]Original Link: http://feeds.boingboing.net/~r/boingboing/iBag/~3/WMpN3njAhl8/why-its-smart-to-be-reckless.html
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