Monthly Archives: July, 2009
Dumb Culture Theory
Among the various objections people have with the Dumb Agent Theory, a prominent example is culture. If a group of people follow a certain belief or culture, won’t their decisions be influenced by this, and doesn’t this mean that the aggregation of their decisions, even if independently made, will not be the most efficient? In [...]
Government Regulation at work
We at Dumbagent, when presenting an article of interest, prefer to link to the original source or article (or as original as can be done over the Internet), but in this case we are linking to a commentary by the Library of Economics and Liberty on the FDA regulation of e-cigarettes, which are smoking cessation [...]
Wisdom of Shoppers
When shopping, whether online or in a store, for clothes or groceries, there are some excellent sites that rely on information by contributors. We introduce some of the best ones here, and will have them featured on our Resources page. Nextag: A comparative shopping website, which, unlike others, has thousands of reviews by users on [...]
Efficient Markets are Dead
An article by the Financial Times states how the Efficient Market Hypothesis (EMH) seems to be dead among many people in finance these days. Because of the all the turmoil in recent months, people believe that the markets cannot be trusted, and they start having more faith in other theories, such as behavioral economics and [...]
