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Economists would tell you that everything happening is perfectly rational: The efficient market hypothesis of ash cloud flying calls for airline financial ruin, outrageous train prices, and a market for jets at the Dorchester. The market would have predicted it all, if only our models had incorporated Eyjafjallajökull data...

Author: By Pierpaolo Barbieri | Title: Volcanic Ash Allowing | 4/23/2010 | See Source »

...people’s behavior, clearly enough, is neither rational nor remotely predictable. Neither was the volcanic eruption. Having just attended the inaugural conference of George Soros’s Institute for New Economic Thinking, one thing is clear: The ash cloud over the continent is the perfect metaphor for the state of economics as a field. Both in economics amidst the global financial crisis as well as, it turns out, in volcano ash predictions, we are relying too much on models that have proven fallible...

Author: By Pierpaolo Barbieri | Title: Volcanic Ash Allowing | 4/23/2010 | See Source »

...stranded passengers share Toropovaite's frustration. The eruption of a volcano beneath Iceland's Eyjafjallajokull (pronounced ay-yah-FYAH-plah-yer-kuh-duhl) glacier has caused the biggest flight disruption since the Sept. 11 terrorist attacks, derailing plans for business travelers, tourists and even European royalty. The high-altitude cloud of smoke - tiny particles of rock, glass and sand, contained in the ash cloud, that can clog an aircraft's ventilation holes and stall its engines - continues to spread across northern and central Europe, forcing aviation officials to ground airplanes from London to Hong Kong to New York...

Author: /time Magazine | Title: Air-Travel Chaos Spreads as Volcano Ash Lingers | 4/16/2010 | See Source »

...observer force that monitors the demilitarized buffer zone between the two sides in the Golan, whose purpose is solely to prevent an outbreak of violence. So this year's Independence Day picnickers on Mount Hermon will enjoy their hummus under what appears to be a looming storm cloud...

Author: /time Magazine | Title: Syrian Saber-Rattling Has U.S. Concerned | 4/15/2010 | See Source »

...reasons misconduct is causing such consternation is because when someone has these charges raised against them, it can put a big cloud over their career for a while, and it’s often extremely hard to clear themselves,” he said. “This training is really in the self-interest of the trainee...

Author: By Elias J. Groll and William N. White, CRIMSON STAFF WRITERS | Title: Harvard To Institute Research Ethics Training | 4/9/2010 | See Source »

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