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Post by Sapphire Capital on Oct 4, 2008 23:07:33 GMT 4
Complexity as a Catalyst of Market Failure: A Law and Engineering Inquiry Steven L. Schwarcz Duke University - School of Law August 20, 2008 Duke Law School Public Law & Legal Theory Paper No. 216 Abstract: This article examines how the complexities of modern investment securities and the assets underlying them can trigger a breakdown of financial markets and also analyzes what should be done to mitigate the potential for market failure. Because these complexities are characteristic of complexities in nonlinear engineering systems, the article's analysis draws on the literature analyzing these systems. papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1270828_code485747.pdf?abstractid=1240863&mirid=1
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