<t>QuoteOriginally posted by: crmorcomQuoteIs it true we cannot compare utilities or aggregate them into a social welfare function?Yes, for sure: we can and we do. How do "we" (I don't know whom you represent, but that "we" sure does not include me) compare and aggregate individual utilities?QuoteWh...

<t>QuoteQuote2. Is it true we cannot compare utilities or aggregate them into a social welfare function?I've already said so (for the fourth and final time now)gardener3:Sorry, I have been away and busy for a while. Let's continue with our conversation.According to wikipedia, a dilemma (Greek δί-λημ...

<t>QuoteOriginally posted by: gardener3QuoteOriginally posted by: knightridergardener3:You have made some interesting points, that we will come to discuss. But in the interest of keeping the discussion concrete and focused. Let's start with the most basic and proceed point by point. Otherwise, we'd ...

<t>gardener3:You have made some interesting points, that we will come to discuss. But in the interest of keeping the discussion concrete and focused. Let's start with the most basic and proceed point by point. Otherwise, we'd waste time and never come to a conclusion.In that spirit, I would like to ...

<t>gardener3:QuoteWhy doesn't the dilemma arise?I can not possibly answer your question about the resolution of the train dilemma (in fact I thought it was pretty clear from my previous post directed at acastaldo, but surely I can reiterate and elaborate if necessary.), because your very question pr...

<t>QuoteOriginally posted by: gardener3QuoteOriginally posted by: knightrideracastaldo:Finally, I got through to somebody that "we cannot compare utilities or aggregate them into a social welfare function". The task is impossible. Speaking of wasteful activity, the effort expended constructing one i...

<t>QuoteOriginally posted by: macrotradeIf you compare RenTech to mainstream QuantFinance you should learn about what they are doing exactly. Hint: they don't hire finance guys and they operate mostly in very small time frames. That has nothing to do with riskmanagement / long-term economic models, ...

<t>No. The two cards have the same value. The maximal value it realizes is now, at $5, if interest/inflation rate is non-negative.What do you mean by notional and face value of an option? If notional/face value of an option is the current value of the option on the merchandise allowed to purchase, i...

<t>@macrotrade: acastaldo is a bit too harsh, but is the reason Krugman's rant appeals to you that you are gleeful that you can finally shed the burden of playing with all those squiggly Greeks? What the h**l is "Logic >> Maths"? What do you care which is larger, since you appear to neither have nor...

<t>day4night:What is your definition of redistribution of wealth? According to the source I checked, it "specifically refers to when assets are seized" involuntarily "from one entity and transfered to another entity" without compensation equal in value. Trades in the exchange or OTC baring any fraud...

<t>acastaldo:Finally, I got through to somebody that "we cannot compare utilities or aggregate them into a social welfare function". The task is impossible. Speaking of wasteful activity, the effort expensed constructing one is one of them. Moreover, any serious and forceful attempt at it will on th...

<t>acastaldo:I am glad you brought up a real example. Let's analyze this, shall we? Since you seem to have posed the situation as a social issue (which I would not have done) and predicate the decision to whether or not to delay the train on the social value calculation (which is irrelevant and impo...

<t>stuartsimpson:I am glad that you agree with me "there is plenty to take issue with" in Krugman's article.I would like to point out though, the point of this topic, at least when I first post it, is to analyze the logic in Krugman's piece. We all know a crisis happened. Everybody is searching for ...

<t>There are so many holes in Krugman's logic that a spray shot won't hit anything.Before we go on a mindless goose chase, let's make clarify an elementary concept.Can someone please tell me the definition of social usefulness/uselessness or frivolity, especially the "social" part. I have a pretty g...

<t>My God, when the subject line caught my eyes, I thought this was a wonderful parody to all the prevailing finger pointing at the quant models or the larger financial industry for the current malaise. I can't believe you guys are discussing it with all the seriousness due for a Black-Scholes. The ...