Wednesday, January 03, 2007

Information Markets as an Emergent Phenomena

Are you really buying and selling consciously, or was it already embedded in your subconcious before you clicked the mouse?

Hey all you philosophers, you should open some Tradesports accounts ... from today's NY Times (registration required):
These so-called emergent phenomena, like brains and stock markets, or the idea of democracy, grow naturally in accordance with the laws of physics, so the story goes. But once they are here, they play by new rules, and can even act on their constituents, as when an artist envisions a teapot and then sculpts it — a concept sometimes known as “downward causation.” A knowledge of quarks is no help in predicting hurricanes — it’s physics all the way down. But does the same apply to the stock market or to the brain? Are the rules elusive just because we can’t solve the equations or because something fundamentally new happens when we increase numbers and levels of complexity?

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