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Thread: Experts discover what the hell is wrong with economics

  1. #1

    Default Experts discover what the hell is wrong with economics

    Turns out all they need is a little time

    Non-technical overview of an interesting development in decision theory:

    https://publishing.aip.org/publishin...ehind-economic

    The paper itself:

    http://aip.scitation.org/doi/10.1063/1.4940236

    Thought some of you might find this interesting. V. excited to see how they build on this idea over the next few years.
    "One day, we shall die. All the other days, we shall live."

  2. #2
    Pleasant lecture by one of the co-authors:

    "One day, we shall die. All the other days, we shall live."

  3. #3
    Aw, distinguishing "noise" from diminishing returns. Behavioral economics is a fascinating field.

    We had a thread (at Atari?) asking if the stock market is nothing more than gambling, but has become legitimized with propaganda, and helped by the government.

    The financial crisis and banking meltdown turned everything on its head. Mostly because the Real Estate markets and mortgages (and CDOs, MBSs) had gotten caught in the leverage vs risk trap. Using peoples' tendancy to believe flipping a coin will win, eventually.

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