asymmetric information
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October 26, 2007 lecture by Paul Tang for the Stanford University Human-Computer Interaction Seminar. Even more fragmented than American health care is the management of health care information. Faced with a barrage of poorly organized health information, physicians and other clinicians must sift through uninspired displays to glean pearls of information necessary to make clinical decisions. New tools for information gathering from patient...more
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Young explains how he dealt with the ongoing presence of news reporters throughout his career. He realized that many of these reporters commuted for long hours, only to receive tidbits of information from the 49ers team. By stepping into their shoes, he figured out ways to work effectively together.
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Several theories in finance relate to stock price analysis and prediction. The efficient markets hypothesis states that stock prices for publicly-traded companies reflect all available information. Prices adjust to new information instantaneously, so it is impossible to "beat the market." Furthermore, the random walk theory asserts that changes in stock prices arise only from unanticipated new information, and so it is impossible to predic...more
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Google's main problem is separating the wheat from the chaff through the mounds of creativity they have on hand, says co-founder Larry Page. There are simply more ideas than time and resources allow them to accomplish.
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Google will always be a search engine, despite any additional directions the company may take, because it is a critical part of the mission the founders Page and Brin have defined. Also, says the company, the search engine is far from perfect and still requires many developments before it is complete.
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Kaplan is working on some really "wacky" things. According to him, the next big wave is going to be in Microsensor technology. This will enable people to use technology to do things that don't seem possible. He designed and built a home automation system which narrates whatever is happening. He has basically integrated information from multiple sensors.
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The economic concept of game theory can be readily applied to evolution and behavior. By analyzing encounters between organisms as a mathematical "game," important information such as fitness payoffs and the proportions of "strategies" played by each group within a population can be inferred. While oftentimes these games are too simplified to apply directly to actual examples in nature, they are still useful models that help convey importa...more
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Financial institutions are a pillar of civilized society, supporting people in their productive ventures and managing the economic risks they take on. The workings of these institutions are important to comprehend if we are to predict their actions today and their evolution in the coming information age. The course strives to offer understanding of the theory of finance and its relation to the history, strengths and imperfections of such i...more
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Throughout prehistoric, written, and recent history, human warfare has been commonplace. Nearly all societies engage in regular or periodic war. In many examples, human warfare has characteristics similar to chimpanzee war: an in-group fights with and kills members of the out-group. This information is not to be misinterpreted as either justifying human violence or considering it inevitable. When it comes to births and fecundity, though, h...more
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Visual illusions entertain and astonish us. How and why they occur is due to the way our visual system processes information. The study of visual illusions leads to many surprising and counterintuitive conclusions about vision. How illusions occur will be illustrated with many beautiful, well-known examples from art history as well as novel images. Following this talk the world out there will seem to be a very different place.
