22 read and listen to the second part of the interview and fill in the
words.

constants. forecasting. patterns.
variables. similarities.

i: what kind of “models” are we talking about here?
a: well, that’s a good question, because of course the basic idea of chaos
theory is that there aren’t any models as such – there aren’t guaranteed forms,
but rather of change and development.
i: doesn’t that mean that is impossible?
a: no, but it certainly makes it more of a challenge. mandelbrot, who did the
experiment with stock exchange prices, for example, noted that although the
outcomes were variable, there were in fact certain what we have to do is make sure we know what these are and take into account all
the possible
i: but do economics and finance work in the same way as weather conditions
or the movement of plants?
a: well, no, of course not – but there are certain underlying
in the past, people thought of these things as “linear sys-
tems”, now we know they’re not.