An opinion piece by Chris Arnade on the asymmetry in pay (money for profits, flat for losses), which he describes "the engine behind many of Wall Street's mistakes" That asymmetry "rewards short-term gains without regard to long-term consequences," Chris writes in a new guest blog at Scientific American. "The results? The over-reliance on excessive leverage, banks that are loaded with opaque financial products, and trading models that are flawed." [Scientific American Blog Network]
Game theory and bad behavior on Wall Street
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