Recent findings about the capabilities of smart animals such as corvids or octopi and novel types of artificial intelligence (AI), from social robots to cognitive assistants, are provoking the demand for new answers for meaningful comparison with other kinds of intelligence. This book fills this need by proposing a universal theory of intelligence which is based on causal learning as the central theme of intelligence. The goal is not just to describe, but mainly to explain queries like why one kind of intelligence is more intelligent than another, whatsoever the intelligence. Shiny terms like "strong AI," "superintelligence," "singularity" or "artificial general intelligence" that have been coined by a Babylonian confusion of tongues are clarified on the way.

Christian Hugo Hoffmann undermines the citadel of risk assessment and management, arguing that classical probability theory is not an adequate foundation for modeling systemic and extreme risk in complex financial systems. He proposes a new class of models which focus on the knowledge dimension by precisely describing market participants' own positions and their propensity to react to outside changes. The author closes his thesis by a synthetical reflection on methods and elaborates on the meaning of decision-making competency in a risk management context in banking. By choosing this poly-dimensional approach, the purpose of his work is to explore shortcomings of risk management approaches of financial institutions and to point out how they might be overcome.