Richard Bookstaber: Understanding Markets Through Complexity and Human Behavior

Risk expert and author Richard Bookstaber joins guest host Genevieve Hayman, senior researcher at CFA Institute, to explore why traditional financial models often fail to capture the real dynamics of markets. Drawing from decades of experience — from hedge funds to the US Treasury — Bookstaber unpacks how human behavior, feedback loops, and network effects shape systemic risk and market crises. The conversation delves into how complexity science, agent-based modeling, and new AI tools can help investors build resilience and rethink how risk is managed. Listen to the episode for insights on navigating today's interconnected financial landscape, and read Genevieve's recent report, Reframing Financial Markets as Complex Systems , available at

You can listen to Richard Bookstaber: Understanding Markets Through Complexity and Human Behavior online on Radio and Podcast. Open the player on this page to stream the available audio.

Richard Bookstaber: Understanding Markets Through Complexity and Human Behavior is an episode from Guiding Assets by CFA Institute.

This episode is 36:47 long.

This episode was published on Nov 1, 2025.

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