Columbia's Derman Podcasts on Models Behaving Badly

Models are fundamental for operations researchers, but, as the financial collapse of 2007-2008 proved, models don't always behave as they should. Emanuel Derman of Columbia University's financial engineering program is the author of the new book "Models. Behaving. Badly. Why Confusing Illusion with Reality Can Lead to Disaster on Wall Street and in Life" explores not only the differences between scientific and financial models but also the perspectives of great philosophers in this week's podcast at www.scienceofbetter.org/podcast.