Andrew White

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Entries Categorized as 'Uncertainty'


Uncertainty, Information Theory, and How Markets Work

by Andrew White  |  November 11, 2009  |  3 Comments

In “Bribing the Markets”, the Economist last week highlighted explored the impossible task of eliminating uncertainly.  The short article highlights how uncertainty is different from risk; betting on the probability of a card turning up in poker is risky business; macroeconomic analysis cannot predict all the unknown outcomes. This article touches on some ideas that [...]

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Category: Economy Information Theory Uncertainty     Tags: