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Article: OUT OF CHAOS THEORY, AN ECONOMIC TOOL.(LIFE & LEISURE)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- August 29, 1993
CopyrightCOPYRIGHT 1993 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: RICK KARLIN - Staff writer
Mark Embrechts could be described as a latter-day alchemist. While those of centuries past tried to conjure gold out of lead and other base metals, Embrechts tries to make money out of chaos.
Instead of laboring over secret potions, however, Embrechts spends hours hunched over a personal computer in his fifth-floor office at the Rensselaer Polytechnic Institute, trying to extract mathematical patterns and recurring themes from the vagaries of international exchange rates.
So far, he has found a measure of success in applying to economics an advanced mathematical tool known as chaos theory. And in doing so, ...