Sublime

Richard Koch richardkoch8020@gmail.com

When we do, we assume the politicians are clients in a patron–client relationship, and we assume their obligations will cloud their impartial judgment.

There is no Newtonian law of markets; they are all ephemeral relationships in a sea of noise and the only way you can do that and capture non-linearity and complexity is with a system that is rich enough to be able to contain all the models, so a universal approximator—that’s what neural nets are—and allows you to do that.

There is an additional element of importance: these systems usually generate implicit internal models of their environments, models progressively revised and improved as the system accumulates experience. The systems learn.

Realistically, agents not identical, don’t know other agents’ circumstances or likely behavior; or situation complicated and not fully known. There is fundamental uncertainty: Therefore “the problem” is not well-defined; Therefore “rationality” is not well-defined; Therefore “optimal” behavior is not well-defined; Behavior and outcome unlikely to

His life’s work is devoted to helping experts build better businesses.

Intellectual Capital: The New Wealth of Organizations. Pay particular attention to the extensive appendix, where he suggests specific accounting rules that better align with an information-based economy than with a manufacturing-type economy, which generated many of the FASB rules we follow today.

They appear to want some of the same things most of us want: recognition from their peers and communities and better lives for the people they care about. Being