Industry WIKI

David Elliot Shaw (born March 29, 1951) is an American billionaire, scientist, and founder of hedge fund D. E. Shaw & Co.. A former assistant professor in the computer science department at Columbia University, Shaw earned his fortune exploiting inefficiencies in financial markets with the help of early Internet networks and quantitative trading strategies. In 2001, Shaw turned to full-t

Jürgen von Hagen (born in Iserlohn on December 14, 1955) is a German economist and professor at the University of Bonn, where he currently also serves as director of the Institute for International Economic Policy. He was awarded the Gossen Prize in 1997.

In economics, money illusion, or price illusion, is a cognitive bias where money is thought of in nominal, rather than real terms. In other words, the face value (nominal value) of money is mistaken for its purchasing power (real value) at a previous point in time. Viewing purchasing power as measured by the nominal value is false, as modern fiat currencies have no intrinsic value and th