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...part intuition, one part historical data, and one part mathematical modeling—to come up with good decisions,” Laibson says.In practice, though, moving entirely to the “common sense” approach on the trading floor is far from a panacea for the chaos wreaked by unusual events.Models may be imperfect, but so is human judgment. And firms trading thousands of different securities each day find it impossible to hire the manpower necessary to scrutinize each trade.“The trouble with common sense,” Brown says...

Author: By Athena Y. Jiang, CRIMSON STAFF WRITER | Title: Post-Crisis Economics | 6/3/2009 | See Source »

...Politics of Condoms,” column, April 16), the impression was given that the Harvard Center for Population and Development Studies decided to end the AIDS Prevention Research Project, of which I am director, in response to my recent, controversial comments which questioned condoms as the panacea for AIDS in Africa. That is not the case. Our project is not being continued, but it has been extended beyond its original end-date on a no-cost extension basis...

Author: By Edward C. Green | Title: Clarifying HIV Prevention | 4/23/2009 | See Source »

...together, fossil fuels are frying the planet, and solar and wind are only intermittent electricity sources. But nuclear energy is still paying the price for the disastrous era that ended with TMI. And it's too high a price. (Read Nuclear's Comeback: Still No Energy Panacea...

Author: /time Magazine | Title: Three Mile Island at 30: Nuclear Power's Pitfalls | 3/27/2009 | See Source »

...globalization-friendly compadre Thomas Friedman of the New York Times credits Nilekani for inspiring his book The World is Flat and writes "Seattle has Bill ... Bangalore has Nandan"), Nilekani possesses a bird's-eye view of India's strengths and weaknesses. Though inclined to see information technology as a panacea for India's social ills (he admits he fears being deemed "the computer boy"), Nilekani is quick to caution that safeguarding India's growth requires far more than economic prowess. (Read "Stressed Out in India's Tech Capital...

Author: /time Magazine | Title: Imagining India: A Manifesto by the Bill Gates of Bangalore | 3/23/2009 | See Source »

...Even some experts acknowledge that helmets are no panacea, and not only because they become less effective at higher speeds. Skiers argue that they reduce peripheral vision and also provide a false sense of security that encourages speeding. Those claims may well have some truth, but seat belts too may create a false sense of security, yet few people argue the wisdom of wearing them. Helmets may not provide the same level of protection as a seat belt, but in some cases, even inconsistent protection may make all the difference...

Author: /time Magazine | Title: Could a Helmet Have Saved Natasha Richardson? | 3/18/2009 | See Source »

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