From one of the most influential scientists of our time, a dazzling exploration of the hidden laws that govern the life cycle of everything from plants and animals to the cities we live in.

Visionary physicist Geoffrey West is a pioneer in the field of complexity science, the science of emergent systems and networks. The term “complexity” can be misleading, however, because what makes West’s discoveries so beautiful is that he has found an underlying simplicity that unites the seemingly complex and diverse phenomena of living systems, including our bodies, our cities and our businesses.

Fascinated by aging and mortality, West applied the rigor of a physicist to the biological question of why we live as long as we do and no longer. The result was astonishing, and changed science: West found that despite the riotous diversity in mammals, they are all, to a large degree, scaled versions of each other. If you know the size of a mammal, you can use scaling laws to learn everything from how much food it eats per day, what its heart-rate is, how long it will take to mature, its lifespan, and so on. Furthermore, the efficiency of the mammal’s circulatory systems scales up precisely based on weight: if you compare a mouse, a human and an elephant on a logarithmic graph, you find with every doubling of average weight, a species gets 25% more efficient—and lives 25% longer. Fundamentally, he has proven, the issue has to do with the fractal geometry of the networks that supply energy and remove waste from the organism’s body.

West’s work has been game-changing for biologists, but then he made the even bolder move of exploring his work’s applicability. Cities, too, are constellations of networks and laws of scalability relate with eerie precision to them. Recently, West has applied his revolutionary work to the business world. This investigation has led to powerful insights into why some companies thrive while others fail. The implications of these discoveries are far-reaching, and are just beginning to be explored. Scale is a thrilling scientific adventure story about the elemental natural laws that bind us together in simple but profound ways. Through the brilliant mind of Geoffrey West, we can envision how cities, companies and biological life alike are dancing to the same simple, powerful tune.

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This book provides a short, hands-on introduction to the science of complexity using simple computational models of natural complex systems–with models and exercises drawn from physics, chemistry, geology, and biology. By working through the models and engaging in additional computational explorations suggested at the end of each chapter, readers very quickly develop an understanding of how complex structures and behaviors can emerge in natural phenomena as diverse as avalanches, forest fires, earthquakes, chemical reactions, animal flocks, and epidemic diseases.

Natural Complexity provides the necessary topical background, complete source codes in Python, and detailed explanations for all computational models. Ideal for undergraduates, beginning graduate students, and researchers in the physical and natural sciences, this unique handbook requires no advanced mathematical knowledge or programming skills and is suitable for self-learners with a working knowledge of precalculus and high-school physics.

Self-contained and accessible, Natural Complexity enables readers to identify and quantify common underlying structural and dynamical patterns shared by the various systems and phenomena it examines, so that they can form their own answers to the questions of what natural complexity is and how it arises.

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Half of all Americans have money in the stock market, yet economists can’t agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe–and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist.

 

Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency isn’t wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo’s new paradigm explains how financial evolution shapes behavior and markets at the speed of thought–a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation.

A fascinating intellectual journey filled with compelling stories, Adaptive Markets starts with the origins of market efficiency and its failures, turns to the foundations of investor behavior, and concludes with practical implications–including how hedge funds have become the Galápagos Islands of finance, what really happened in the 2008 meltdown, and how we might avoid future crises.

An ambitious new answer to fundamental questions in economics, Adaptive Markets is essential reading for anyone who wants to know how markets really work.

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Reason, we are told, is what makes us human, the source of our knowledge and wisdom. If reason is so useful, why didn’t it also evolve in other animals? If reason is that reliable, why do we produce so much thoroughly reasoned nonsense? In their groundbreaking account of the evolution and workings of reason, Hugo Mercier and Dan Sperber set out to solve this double enigma. Reason, they argue with a compelling mix of real-life and experimental evidence, is not geared to solitary use, to arriving at better beliefs and decisions on our own. What reason does, rather, is help us justify our beliefs and actions to others, convince them through argumentation, and evaluate the justifications and arguments that others address to us.

In other words, reason helps humans better exploit their uniquely rich social environment. This interactionist interpretation explains why reason may have evolved and how it fits with other cognitive mechanisms. It makes sense of strengths and weaknesses that have long puzzled philosophers and psychologists―why reason is biased in favor of what we already believe, why it may lead to terrible ideas and yet is indispensable to spreading good ones.

Ambitious, provocative, and entertaining, The Enigma of Reason will spark debate among psychologists and philosophers, and make many reasonable people rethink their own thinking.

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