The risk of regulating risk, they write calculatingly….

Finance puzzles many people. This new study may make finance less puzzling, or more puzzling, or both: “Any Regulation of Risk Increases Risk,” Philip Z. Maymin [pictured here] and Zakhar G. Maymin, arXiv:1004.1670v4, April 20, 2012. The first author identifies himself as Assistant Professor of Finance and Risk Engineering at NYU-Polytechnic Institute in Brooklyn, New York. The second author […]

Calculations: Insurance for clowns

Clown insurance is for clowns, not for persons potentially afflicted by them. Insurance companies offer it to clowns because clowns – no matter what you may thoughtlessly think of them – are people, and bad things can happen to anyone. Clown insurance exists, as a distinct product category, thanks to the mathematical discipline called risk assessment. […]

The Big Bank Opera (video)

“The Big Bank Opera” premiered as a featured part of the 2009 Ig Nobel Prize ceremony. Here’s the entire mini-opera — Act 1, Act 2, Act 3 and Act 4 — each as a separate episode (#124-7) of the Improbable Research TV series. The video displayed below is Act 3, which is called “The Big […]