Why doesn’t Robin Hanson implement his grandiose idea on a small organization (like George Mason University), as opposed to a national government, to see whether it makes sense? I suspect it doesn’t. Prediction markets have very, very slightly improved the world since 1988, my good doctor Hanson. That does not make a strong case for using prediction markets in decision making —let’s call that “collective decision making“, by the way.
Yes of course new ideas for organizations should be tried first in smaller organizations. Do let me know of any small orgs interesting in experimenting.
I strongly believe that the way to resolve the forthcoming global food crisis, is to set up trout farms on the moon. I am keen to find individuals with deep pockets that wish to back the venture. So, Chris, should you know of any ….
Niall,
Your irony is OK.
However, you have to reckon that Robin Hanson makes an effort to back his argument with economic science. It is not just a proposal made up out of thin air.
Thank you, I will sleep better.
Ah economic science ….
http://www.economist.com/printedition/displayStory.cfm?Story_ID=14031376
You know, I was wondering what the point of Einstein’s Relativity was, so could you also get the good Dr. Hanson to tell me where the Dow is going to be trading next week? Since I’m not sure that that theory made the world much better since 1915.
Niall, does The Economist aim at macro-economists? I would say that Robin Hanson is a micro-economist.
Cav, hope you’re well.