Word: hayek
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...should markets be better forecasters than polls? Economist Friedrich von Hayek argued that markets efficiently gather information held by widely dispersed people, summarizing it in the form of prices. In speculative markets, traders and bettors are rewarded only if they correctly predict future prices. That, Wolfers says, motivates them to get the best information they can, ignoring trivia and trends. "The market seems pretty highly attuned to news that affects the election outcome," Wolfers says. "That's not always the same as what the papers report. The market is unlikely to react to things like party conferences and policy speeches...
Surowiecki's thesis posits an uncanny and generally unconscious collective intelligence working not by top-down diktat but rather in dynamic arrangements of what the economist Friedrich Hayek called "spontaneous order." Surowiecki cites the giant flock of starlings evading a predatory hawk. From the outside, the cloud of birds seems to move in obedience to one mind. In fact, Surowiecki writes, each starling is acting on its own, following four simple rules: "1) stay as close to the middle as possible; 2) stay 2 to 3 body lengths away from your neighbor; 3) do not bump into any other starling...
Lopez was the top pick in a pool of nominees that included Adam Sandler, Michelle Yao and Salma Hayek, according to Counter. Counter said that the choice of Lopez as this year’s host was unanimously supported by both student and faculty members of the Foundation...
...people you know are going to dust themselves off and head for the craft service table once the camera stops turning. Meantime, Rodriguez is more than likely choreographing some brilliant variation on a standard action trope. The high point here is El Mariachi (Antonio Banderas) and his bride (Salma Hayek), chained together, in a breathtaking escape down the sheer wall of a hotel. It is beautifully managed--a cliched situation without any cliches in its development. Rodriguez even stages an eerie gun battle, in which all the weapons are silencer equipped. Wow, you say, why didn't anyone think...
Balthazar is one of the toughest tables in New York, but Lawson has a private reservation number, so we are escorted to a large booth across from Ed Norton and Salma Hayek. "I've been very brutal about the cheese," she says after eliminating two subpar goat cheeses from the Balthazar selection. She also has strong opinions about the wine. "It needs to breathe for several generations. It will be very good one day." The desserts, however--pineapple upside-down cake, fruit focaccia and tarte tatin--appeal to her in all their Rubenesque unsubtlety. And as she removes the last...