Word: biases
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...driving force behind prediction markets is something called information aggregation. Traditionally, it has been the realm of professionals such as pollsters or weather forecasters or the CIA. Those experts tend to be knowledgeable but are prone to certain limitations: personal bias, groupthink, clashing personalities. "In companies, not only are people afraid to get an answer, they are afraid of asking the question," says Emile Servan-Schreiber, CEO of NewsFutures Inc., which sells markets programs to corporations. So a market can benefit from outsiders' views that are reflected, in real time, in the form of prices. The dirty secret is that...
...little guy is a lot smarter than big media might have you think. Blogs showcase some of the smartest, sharpest writing being published. Bloggers are unconstrained by such journalistic conventions as good taste, accountability and objectivity--and that can be a good thing. Accusations of media bias are thick on the ground these days, and Americans are tired of it. Blogs don't pretend to be neutral: they're gleefully, unabashedly biased, and that makes them a lot more fun. "Because we're not trying to sell magazines or papers, we can afford to assail our readers," says Andrew Sullivan...
Some bloggers earn their bias the hard way--in the trenches. Military bloggers, or milbloggers in Net patois, post vivid accounts of their tours of Baghdad, in prose covered in fresh flop sweat and powder burns, illustrated with digital photos. "Jason," a National Guardsman whose blog is called justanothersoldier.com, wrote about wandering through one of Saddam Hussein's empty palaces. And Iraqis have blogs: a Baghdad blogger who goes by Salam Pax (dear_raed.blogspot.com) has parlayed his blog into a book and a movie deal. Vietnam was the first war to be televised; blogs bring Iraq another scary step closer...
...Balestracci.A sharp-shooter for the basketball team, stud wide receiver, and fierce middle linebacker, respectively. All three athletes had four freshmen pick them out (two simply didn’t have a clue). The budding statisticians and sociologists among the readership will surely be quick to point out the bias of self-selection present in this study: those most interested in Harvard athletics would be those who took the time to answer the e-mail. Because of this, the pathetically small sample size, and other experimental inefficiencies, the results are unfortunately inconclusive, if not just indicative of rapid uptake, then...
...deserves high praise. His is the first voice out of Harvard to speak out and question why the University with its billions is being miserly in donating to the millions left homeless. Such an uncharitable attitude from the world’s richest academic institution only betrays a callous bias against people far off and thus out of Harvard’s radar...