Statistical analysis moons the bull
2nd September 2007
Mencius Moldbug. For those who listen to modern music, “FT” meand “Financial Times”, the British equivalent of the Wall Street Journal if the Wall Street Journal were run by Democrats.
Although focused on financial markets (which some consider boring), this piece actually has some interesting things to say about life:
If our esteemed professor were actually to establish a prediction market in which people could make actual money by predicting Supreme Court decisions, he could actually pit the best models against the best experts, as selected not by his secretary, but by an adaptive system which rewards success and punishes failure. Heck, if he has a good model, he could actually make some scratch in the game. Maybe he could even detach himself from the Official Tit.
Now how can you resist reading anything written by someone who can write that?