tag:blogger.com,1999:blog-5880610.post110611633302332685..comments2024-01-13T18:57:18.243-05:00Comments on Information Processing: Gut instinct, or efficient markets?Steve Hsuhttp://www.blogger.com/profile/02428333897272913660noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-5880610.post-1106411032750437682005-01-22T11:23:00.001-05:002005-01-22T11:23:00.001-05:00An alternate and more sound review.
AnneAn alternate and more sound review.<br /><br />AnneAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-1106410991784955972005-01-22T11:23:00.000-05:002005-01-22T11:23:00.000-05:00http://query.nytimes.com/gst/fullpage.html?res=9C0...http://query.nytimes.com/gst/fullpage.html?res=9C00E5DA1039F935A35752C0A9639C8B63<br /><br />Hold That Thought: Haste Isn't All Waste <br />By JANET MASLIN <br /><br />'Blink' <br />'The Power of Thinking Without Thinking' <br />By Malcolm Gladwell <br /><br />Malcolm Gladwell, whose best seller ''The Tipping Point'' (2000) analyzed the means by which fads and ideas propagate, has written a Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-1106395245894415152005-01-22T07:00:00.000-05:002005-01-22T07:00:00.000-05:00Does the size of a crowd matter :) ?
AnneDoes the size of a crowd matter :) ?<br /><br />AnneAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-1106395138632377032005-01-22T06:58:00.000-05:002005-01-22T06:58:00.000-05:00Having borrowed a copy of "Wisdom of Crowds," I re...Having borrowed a copy of "Wisdom of Crowds," I realize freshly never ever pay attention to David Brooks. I gave way after 100 pages. There is no rigor in the argument, and limited charm to the anecdotes. This might make for a reasonable comic film, nothing more. there are times when crowds are right but times when wrong. Duh.<br /><br />AnneAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-1106237983328381892005-01-20T11:19:00.000-05:002005-01-20T11:19:00.000-05:00I found "The Wisdom of Crowds" quite unconvincing....I found "The Wisdom of Crowds" quite unconvincing. Mostly because it was argued from way too much of an anecdotal perspective. Clearly there are situations were the crowd is good and times when the crowd is not good. The weakness of the book was in not spending enough time covering when the crowd is not good. And further, if the idea of using the crowd for wisdom is to have any merit, you Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-1106151311872363692005-01-19T11:15:00.000-05:002005-01-19T11:15:00.000-05:00When oil was 12 dollars a barrel and evidently app...When oil was 12 dollars a barrel and evidently approaching 10 in 1999, the market had decided that the price was right. Any price was and in right, for a time. Analysts were singing songs of oil below 10 dollars. There were those who sold oil at 12 and those who bought. Buying was of course proper. There is no right or wrong price of oil, only a continually changing price that makes buyers Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-1106146059114691622005-01-19T09:47:00.000-05:002005-01-19T09:47:00.000-05:00Thought provoking entry(as always!).
As you noted...Thought provoking entry(as always!).<br /><br />As you noted, I find it hard (actually, impossible) that aggregate of non-experts would be better than an expert in certain types of questions, say in pure mathematics or theoretical physics.<br /><br />On the other hand, when the system is so probabilistic with so many variables with unknown impacts, the average is likely to better than an "expert"Anonymousnoreply@blogger.com