The Black-Scholes model is an attempt to apply solved heat flow equations to a financial pricing problem.
It requires demonstrably invalid assumptions to be made to make it work (such as markets do not trend).
Just because a Nobel prize was awarded does not make the model valid.
timothy from the but-that-danged-button-arrangement-sucks dept.
ActionDesignStudios writes "The upcoming release of Ubuntu, titled 'Lucid Lynx,' has just entered the beta cycle. Alongside the usual desktop and server versions, a special version has been released that is designed to run on Amazon's EC2 cloud service. This release of Ubuntu does away with the brown 'Human' Gnome theme we've all become accustomed to, replaced by a new version Canonical says is inspired by light. The new release also includes much better integration with social networking services such as Twitter, identi.ca and Facebook, among others."
timothy from the rodents-of-unusual-size dept.
Julie188 writes with this snippet from Network World "Office 2010 is still in beta and a patch is already out. Microsoft is trying to fix a bug in the email program Outlook 2010 Beta that creates unusually large e-mail files that take up too much space. The Outlook product team has offered a bug fix for both 32-bit and 64-bit systems that fixes the problem going forward, although previous emails will remain super-sized. This could be a problem for email programs that limit message sizes, such as Gmail or BlackBerry."
timothy from the applied-psychology dept.
the3stars writes "'Removing part of the brain can induce inner peace, according to researchers from Italy. Their study provides the strongest evidence to date that spiritual thinking arises in, or is limited by, specific brain areas. This raises a number of interesting issues about spirituality, among them whether or not people can be born with a strong propensity towards spirituality and also whether it can be acquired through head trauma."
One critic's quoted response: "It's important to recognize that the whole study is based on changes in one self-report measure, which is a coarse measure that includes some strange items."