My assumption in any discussion is that setting robustness/completeness aside, markets are slower than alts at first, but faster later?
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..but I don't know of any empirical studies of actual speeds in reasonably comparable situations.
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@vgr you could call the 20th century an experiment with N=2Thanks. Twitter will use this to make your timeline better. UndoUndo
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@vgr I would imagine that the speed is higher with central planning, whereas free market ensures the right direction is found much fasterThanks. Twitter will use this to make your timeline better. UndoUndo
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@vgr problem with question is speed toward what? Planning presupposes goals but markets don't. -
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@ChrisVermilion Let's just say speed to a market "outcome" that makes the planned solution/goal moot. - Show replies
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@vgr you would need an environment with known and static supply and demand. I'm not sure if this question is answerable in principleThanks. Twitter will use this to make your timeline better. UndoUndo
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@Jamesthesnake compare the speed of a linear growth curve to an exponential for example. There's a crossing pointThanks. Twitter will use this to make your timeline better. UndoUndo
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@vgr Yes. See Coase, *The Nature of the Firm -
@riemannzeta oh neat...never actually read it.
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