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Model Failure

机译:模型失败

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摘要

The currevt credit crunch is the first in which mathematical models have played an important role. Common flaws in risk models link the failure of rating agencies to predict the level of defaults on sub-prime mortgages, the freezing up of the market for complex debt securities and problems at several dozen hedge funds and a handful of banks, including the U.K.'s Northern Rock. We handed over the job of assessing financial risk to mathematicians and physicists — and they failed.
机译:现行信贷紧缩是数学模型发挥重要作用的第一个方法。风险模型中的常见缺陷与评级机构无法预测次级抵押贷款的违约水平,复杂债务证券的市场冻结以及数十家对冲基金和包括英国在内的少数银行的问题有关。的北岩。我们将评估财务风险的工作交给了数学家和物理学家,但他们失败了。

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