Complexity theory is designed to bring order out of a rough-and- tumble world, something close to every insurance professional's or actuary's heart. Whether applied in the laboratory or as part of a mathematical model, it can do wonderful things . But in the real world it's just what its name says-a theory. It may help us understand why things go one way or another, but it can't foretell those things with such certainty that an insurance company could, say, set its rates based on the knowledge that only one hurricane will strike Florida during the coming year...
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
7881.
Find related papers by JEL classification: G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Capital and Ownership Structure Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
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