Benoit Mandelbrot would suggest that the Matthew Effect (in its guise of undervalued securities getting more and more undervalued) was what did for Merton fils in the end.
dd -----Original Message----- From: PEN-L list [mailto:[EMAIL PROTECTED] Behalf Of Michael Perelman Sent: 08 May 2005 16:44 To: [email protected] Subject: Re: Jesus and the housing bubble Yes, that is where I first heard it. His son, of course, tried to help enfoce it as on of the principals of Long Term Credit Management. On Sun, May 08, 2005 at 09:47:41AM -0400, ravi wrote: > On 07/05/2005 11:00 PM, Michael Perelman wrote: > > you mean > > > > "For to everyone who has will more be given, and he will have > > abundance but from him who has not even what he has will be taken > > away" (Matthew 25:29). > > > > what robert merton called "the matthew effect"... > > http://www.physicstoday.org/vol-58/iss-4/p17.html > > --ravi -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
