Models, Markets and Crises

Professor Donald MacKenzie of the University of Edinburgh, one of the leading scholars on the impact of option modeling on market behavior, discusses how innovations in financial modeling have contributed to the current financial crisis. This keynote address was part of the research symposium The Quantitative Revolution and the Crisis, cohosted by the Sanford C. Bernstein Co. Center for Leadership and Ethics and the Center on Japanese Economy and Business at Columbia Business School. Learn more at