Re:Microsoft buys corp.com so bad guys can’t
by rocelot on Tuesday April 07, 2020 @09:26AM
(#22802983)
I think the implication is that, to quote Eric Weinstein from that Kayfabe article, "economic theory ... currently uses as it's central construct a market model based on assumptions of perfect information."
[ Parent
| on HN ]
Re:Microsoft buys corp.com so bad guys can’t
by QuesnayJr on Tuesday April 07, 2020 @09:56AM
(#22803213)
Does he say that? Because it's very wrong -- economics of imperfect information has been a dominant theme of microeconomics for the last 50 years. They gave Akerlof, Stiglitz, and Spence the Nobel back in 2001. They gave a second Nobel in 2007 for mechanism design, which is on when and how you can design institutions so that imperfect information doesn't wreck everything.