The Unfortunate cosT Of Pattern rEcognition (UTOPE-ia), is a concept introduced by Ibn Gosset (pseudonym) in order to explain the genetic disorder of the financial industry. More specifically it explains how the benefice between seeing a true patterns usually far outweighs the cost of being mistaken with respect to a false pattern which have naturally made human more prone to see patterns sometimes where there is none. This asymmetry has been in our advantage in our evolutionary past, however today, with a changed environment, this can have drastic repercussion in our lives and economies (for example trader compensation methods, technical analysis, self-fulfilling prophecies, sales and structured products etc ...) . The controversial nature of the article pressured the author to use a "nom de plume".

This article uses material from the Wikipedia article UTOPE, that was deleted or is being discussed for deletion, which is released under the Creative Commons Attribution-ShareAlike 3.0 Unported License.
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