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In mathematics, chaos theory describes the behavior of certain dynamical systems – that is, systems whose states evolve with time – that may exhibit dynamics that are highly sensitive to initial conditions (popularly referred to as the butterfly effect).
 Wikipedia philosophy mathematics complexity nature chaos
It's not every day that someone writes down an equation that ends up changing the world. But it does happen sometimes, and the world doesn't always change for the better. It has been argued that one formula known as Black-Scholes, along with its descendants, helped to blow up the financial world...

2012-04-27

 mathematics finance crisis prediction chaos market economy