We are surrounded by things that do not work well but are nonetheless widely used. Wire coat-hangers and the US border with Mexico are just two examples. Another, according to Nassim Nicholas Taleb, is the BlackScholes model.
COMMENT
Mispriced risk tests market faith in a prized formula
By Anuj Gangahar in New York
Published: April 15 2008 19:03 | Last updated: April 15 2008 19:54
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