The Stock Market: Explained! by 1950s educational videos

Two gems I found on DVD. Sadly, since I don’t own the copyright, and don’t feel like getting into a kerfuffle with anyone, for now I’m just going to put them behind a password on Vimeo for our own internal use. So, Team TRADE PRACTICES, you know what to do. If anyone else is reading … Continue reading

The Wisdom of Crowds: Collective Organization

notes from Surowiecki, James. The Wisdom of Crowds. (Anchor: 2005). Pedestrians are a well-organized crowd, “in which lots of small, subtle adjustments in pace and stride and direction add up to a relatively smooth and efficient flow.” They are solving coordination problems: “to solve [a coordination problem], a person has to think not only about what he … Continue reading

Wisdom of Crowds: the Challenger Explosion

notes from Surowiecki, James. The Wisdom of Crowds. (Anchor: 2005). Within minutes of the explosion of the space shuttle Challenger, investors began dumping stock of the 4 major participating contractors. Three firms began to creep back up after an initial decline, and one stayed down. The market had implicated a responsible party, without any external commentary … Continue reading

The Wisdom of Crowds: Decision Markets

Iowa Electronics Market (IEM) project — futures markets that use the crowd wisdom associated with a market to predict election results. Hollywood Stock Exchange (HSX) does the same with box office returns. DARPA’s FutureMap program was a short-lived set of internal markets, which would have been quite small and open only to intelligence analysts, and perhaps … Continue reading