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I am sad about this. The cost of costing things necessarily introduces some tiny sliver of irrationality into any market. That is, putting a price on something
by lkrubner 16y ago
I am sad about this. The cost of costing things necessarily introduces some tiny sliver of irrationality into any market. That is, putting a price on something takes time and resources, but time and resources are finite, therefore no market can hope for infinitely rational prices. If these price changes chase away some of the smarter traders from InTrade, then trading becomes slightly less rational (or rather, the prices do). And yet, everything must have a cost, and so there is no way to wholly avoid this problem. All the same, InTrade interests me. I've haven't traded there yet, but I plan to jump in this year, unless the other prediction markets take off.