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Yeah, and all those biases apply to people on HN too - You (the proverbial) aren't good at making assessments either. Also, flipping it for arguments sake, how

by ksk 9y ago

Yeah, and all those biases apply to people on HN too - You (the proverbial) aren't good at making assessments either. Also, flipping it for arguments sake, how come software companies are never penalized for introducing software bugs? How would you like it if an accountant wanted to send you to jail because you introduced a security bug and their critical data got wiped out and they went out of business? Or should we go back to blaming them for not having backups because we have an a-priori assumption that "shit happens" when it comes to software? Well, the other side could say 'shit happens' too.

dredmorbius 9y ago
Those are actually questions I'm actively exploring. Some recent discussion (from myself and others) on this G+ thread: https://plus.google.com/+YonatanZunger/posts/267XsJzKM5B https://plus.google.com/+YonatanZunger/posts/267XsJzKM5B I've discussed Gresham's Law dynamics numerous times at my subreddit/blog. See particularly: https://www.reddit.com/r/dredmorbius/comments/2h63fp/is_greshams_law_a_special_instance_of_a_more/ https://www.reddit.com/r/dredmorbius/comments/2h63fp/is_gres... I've been meaning to write up a bit expanding market price dynamics beyond the set of goods that Adam Smith defined: labour, capital, commodities, rents, and (indirectly) interest. In particular, the question of risk pricing, which is treated almost wholly as a financial question rather than an economic one. The question of pricing under duress is a key one -- the Backward-'S' bending supply curve is a curious economic anomaly: https://www.reddit.com/r/dredmorbius/comments/53mcxn/backward_s_shaped_supply_curves/ https://www.reddit.com/r/dredmorbius/comments/53mcxn/backwar... Also the behaviour of natural resource stocks under supplier pressure -- the price will fall to the lowest levels possible, and supplied volume will increase, if possible, for a number of highly perverse reasons. The collapse of oil prices following the East Texas oilfield discovery, from ~$1/bbl to first $0.13/bbl, then $0.02/bbl, before wellhead production was siezed at force of arms by the Oklahoma and Texas national guard, and Texas rangers, comes to mind. https://www.reddit.com/r/dredmorbius/comments/6etqey/oil_is_not_a_drug_oil_dependence_is_not_an/ https://www.reddit.com/r/dredmorbius/comments/6etqey/oil_is_...

by ksk 9y ago

dredmorbius 9y ago

Those are actually questions I'm actively exploring. Some recent discussion (from myself and others) on this G+ thread: https://plus.google.com/+YonatanZunger/posts/267XsJzKM5B https://plus.google.com/+YonatanZunger/posts/267XsJzKM5B I've discussed Gresham's Law dynamics numerous times at my subreddit/blog. See particularly: https://www.reddit.com/r/dredmorbius/comments/2h63fp/is_greshams_law_a_special_instance_of_a_more/ https://www.reddit.com/r/dredmorbius/comments/2h63fp/is_gres... I've been meaning to write up a bit expanding market price dynamics beyond the set of goods that Adam Smith defined: labour, capital, commodities, rents, and (indirectly) interest. In particular, the question of risk pricing, which is treated almost wholly as a financial question rather than an economic one. The question of pricing under duress is a key one -- the Backward-'S' bending supply curve is a curious economic anomaly: https://www.reddit.com/r/dredmorbius/comments/53mcxn/backward_s_shaped_supply_curves/ https://www.reddit.com/r/dredmorbius/comments/53mcxn/backwar... Also the behaviour of natural resource stocks under supplier pressure -- the price will fall to the lowest levels possible, and supplied volume will increase, if possible, for a number of highly perverse reasons. The collapse of oil prices following the East Texas oilfield discovery, from ~$1/bbl to first $0.13/bbl, then $0.02/bbl, before wellhead production was siezed at force of arms by the Oklahoma and Texas national guard, and Texas rangers, comes to mind. https://www.reddit.com/r/dredmorbius/comments/6etqey/oil_is_not_a_drug_oil_dependence_is_not_an/ https://www.reddit.com/r/dredmorbius/comments/6etqey/oil_is_...