In The Myth of the Rational Voter, Bryan Caplan has a short section on the role of rhetoric in discourse, which is something that I’ve been thinking about for a long time now. In Caplan’s analysis, he makes the case that since people have preferences over beliefs, being right isn’t sufficient to convince them that [...]
It seems common to disparage twitter by saying that people are just sharing mindless minutiae that no one cares about.Maybe it is the case that twitter is, in fact, a time-wasting endeavor filled with people just pumping out tons of information that no one cares about. I am much more inclined to believe, however, that [...]
Previously, I’ve made the case that for the purposes of modeling, it doesn’t matter if people are truly rational (where rational is defined as always making decisions in such a way to maximize their utility functions to the best of their ability). However, just because, for the purposes of modeling, the two things are equivalent [...]
On Wednesday, I wrote about the role markets play in aggregating information. Today I thought I would go into some more detail about how I see the mechanistic properties of markets. Consider the example of the iterated betting market from my previous post – even throwing out any discussion of incentives, the effect still arises [...]
Physical chemistry Ph.D. student at UC Berkeley and all around curious guy.