Daily Archives: September 6, 2012

Decision making under uncertainty: the dog and the frisbee

by Judith Curry

As you do not fight fire with fire, you do not fight complexity with complexity. Because complexity generates uncertainty, not risk, it requires a regulatory response grounded in simplicity, not complexity.

To ask today’s regulators to save us from tomorrow’s crisis using yesterday’s toolbox is to ask a border collie to catch a frisbee by first applying Newton’s Law of Gravity. – Haldane and Madouros

Continue reading