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SUMMARY:Ethics for the working mathematician\, lecture 2: Financial mathem
 atics and modelling. - Maurice Chiodo (University of Cambridge)
DTSTART:20181016T153000Z
DTEND:20181016T163000Z
UID:TALK112051@talks.cam.ac.uk
CONTACT:Maurice Chiodo
DESCRIPTION:We all know about examples of mathematicians misbehaving in fi
 nance\, and even being jailed as a result: Tom Hayes and Ke Xu are two exa
 mples. But more subtle are the modelling tools mathematicians produce. Mat
 hematical modelling is ubiquitous in understanding the way the world works
 \, from finance to physics to climate patterns. Understanding how to devel
 op and use a model\, as well as its limitations\, and the way it interacts
  with the world\, is indispensable in preventing it from causing harm. Unf
 ortunately\, as we saw in the financial crash of 2007\, such models are so
 metimes poorly understood\, with devastating consequences.
LOCATION:MR4\, Centre for Mathematical Sciences
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