Paul's Blog

Copulas and Cults

Felix Salmon has written an interesting piece on the copula model. Naturally the model does not come out well. He quotes me, accurately, as disapproving, to put it mildly, of models that depend on correlations […]

Paul's Blog

In Praise of Ponzi

Well not really, of course. But there are some people quietly sitting pretty… As it becomes generally accepted that the economy of the west is a giant Ponzi scheme, one should reflect on its positive […]