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A defective auditing market that makes ‘lemons’ of us all

https://www.ft.com/content/fddde450-2521-11e8-b27e-cc62a39d57a0 This article covers the market for audit services and how it encompasses the “lemon” problem. A report from the International Forum of Independent Audit Regulators showed evidence that there were serious problems with 40% of the audits inspected that year. With most markets, if 40% of the goods sampled are defective, it usually isn’t […]

Interacting Agents and Stock Market Crashes

https://www.researchgate.net/publication/317873657_An_Interacting_Agents_Model_Approach_To_Stock_Market_Crashes While traditional economics are contingent upon individual actors each acting to maximize their own utility, collectively producing aggregate trends, actual aggregate behavior is distinctly based upon the interactions of individuals, producing aggregate trends that are not reflections of single-actor utility maximization. These behaviors can be analyzed to show the difference between “weak” neighborhood interactions […]

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