The search for causation over the May, 2010 "flash crash," a one hour near 1,000 point loss and recovery on the Dow Jones Industrial Average, is a complex topic but one important to accurately document. Such quantitative market mishaps only have the potential to cause more economic damage as society becomes increasingly dependent on technology and "artificial" intelligence. Initially regulators publicly blamed a "fat finger" on the market sell-off that had no fundamental basis as a computer, not a finger, was involved. But a more nuanced and detailed report pointed to a single market participant for causation.
In support of...