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The Conversation #4 – Colin Camerer

We know very little about complex financial systems and how systemic risk, as it’s called, is computed and how you would manage policies. And if you look back at the financial crisis, you can either say, as many economists do, “It all had to do with badly-designed rules,” which may be part of the story; it’s certainly part of the story. Or it may have to do with the interaction of those rules and human nature, like mortgage broker greed, optimism… And you see it not just in individuals who now have houses and foreclosure, but at the highest levels.

Biased Data Panel Discussion

I think that we need a radical design change. And I might ask if I were teaching an HCI class or design class with you, I would say, “How are you going to design this so that not one life is lost?” What if that were the design imperative rather than what’s your IPO going to be?