Economist wins iPod on Sunday

by Russ Roberts on January 4, 2007

in Podcast

If you’re an economist attending the ASSA meetings in Chicago this meeting, stop by the Liberty Fund booth at the exhibition hall of publishers. I am told Liberty Fund will be having a drawing to give away an iPod pre-loaded with EconTalk podcasts. So stop by and enter and check out the wonderful Liberty Fund books while you’re there.

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bago January 5, 2007 at 6:14 am

Ugh. What a willful misreading of connectionism.

It is about data flow between nodes. Low order nodes influence the signal sent to farther nodes (price), but with IT these days, the compression and distortions such lossfull compression in the data transmission between nodes only makes the graph stupider, or less efficient.

By stipulating that data flow between nodes must always be compressed to a single price integer you are missing the beauty of a graphable system, and choking the data paths which make it efficient.

bago January 5, 2007 at 6:17 am

Aka, never bury data points into a transmission protocol when they could lead to a more efficient heuristic. When stock prices came once a week such compression was valuable. In the days of infinite badnwidth, it just serves as a conduit for rent seeking to hide itself.

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