Robert May

*/By Rick Nason, PhD, CFA
Partner, RSD Solutions Inc/*

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Robert May is a leading biologist who introduced the use of mathematical
models and more specifically complexity into the field of biology.  In my
work of writing about and consulting on complexity, I have often come across
the work of Dr. May, even though finance and risk management is about as far
away from biology as any two fields can be.

Robert May should be required reading for risk managers.  Dr. May's work
into theoretical ecology and biodiversity shares a surprising amount of
commonality with risk management; in particular the focus on modeling within
the context of complexity.

His article titled "Uses and Abuses of Mathematics in Biology"[1] [2]
should be required reading for anyone who deals with risk models.  Loosely
paraphrasing one of the arguments in the article, May laments the fact that
the proliferation and ready access to computer models has allowed those who
do not understand the mathematics to use models without an intuitive
understanding of the mathematics, nor an understanding of the weaknesses and
assumptions of the mathematics that underlie the computer models.  In his
words, "I think this can be worrying."  I too think it is worrying.

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[1] [3] Robert M. May, "Uses and Abuses of Mathematics in Biology",
Science, Vol. 303, February 6, 2004

 


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