Models.Behaving.Badly.: Why Confusing Illusion with Reality Can Lead to Disaster, on Wall Street and in Life

In 'Models.Behaving.Badly.', author Emanuel Derman reflects on his journey from theoretical physics to the world of financial engineering, confronting established practices and examining his life's path. The book offers insights into the limitations of models in understanding nature and society, highlighting the potential risks when they are misunderstood or taken as reality without considering their assumptions. Derman also recounts personal experiences of growing up in apartheid South Africa, providing perspectives on personal identity and societal structures.