"The definitive history of Japan's dismal decade has yet to be written. But most observers would agree that key elements included the bursting of stock market and land bubbles, the resulting problems in the financial system, the collapse of aggregate demand as banks stopped extending credit and the difficulty of moving from export-led growth to domestic-led growth once consumer and business confidence was lost."
A Brave New Wikiworld- Cass R. Sunstein
"Of course, collaborative projects can go badly wrong. Pranksters have altered Wikipedia entries to say that Tony Blair's middle name is "Whoop-de Do"; that David Beckham was a Chinese goalkeeper in the 18th century; that the golfer Fuzzy Zoeller had abused alcohol and drugs; and that John Seigenthaler, a respected journalist, was thought to be involved in the assassinations of both Kennedys (before absconding to the Soviet Union).
The falsehoods about Zoeller and Seigenthaler were no laughing matter, and more serious mistakes, endangering reputations or causing financial losses, are possible. Anyone can vandalize an encyclopedia that "anyone can edit." No less than stock prices, prediction markets may be subject to manipulation. And in medicine and biotechnology, as elsewhere, intellectual property law may be needed to provide adequate incentives for innovation.
But the track record of the new collaborations suggests that they have immense potential. In just a few years, Wikipedia has become the most influential encyclopedia in the world, consulted by judges as well as those who cannot afford to buy books. If the past is prologue, we're seeing the tip of a very large iceberg."
A First Lesson in Econometrics
The Best Free Software
Obituary for a Beautiful Mind
"Experience has shown that in most situations, it is possible to tell a game-theoretic story to fit almost any possible outcome. Although this point is only occasionally acknowledged in the formal literature, it is much more widely accepted in informal discussion"
Is "23" an interesting number?
Religion, Government, and Civil Society
Is an Economist Qualified To Solve Puzzle of Autism?
DOES TELEVISION CAUSE AUTISM?
Discounting the future, yet again
The Science and Economics of Water Shortage- Richard Posner
Sorority signals
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