[FoRK] Agreeing to agree

Jeff Bone <jbone at place.org> on Wed Aug 22 08:28:26 PDT 2007

On Aug 22, 2007, at 10:09 AM, Robert Harley wrote:

>> * and various "no bet" theorems such as the classic by Milgrom &
> *>* Stokey, [4] showing that rational people will not participate in
> *>* betting markets, since the mere fact that someone is willing to
> *>* take your bet is evidence that you are wrong.
>
> Rational people never buy anything since the mere fact that someone is
> willing to sell at a given price is evidence that the item is worth
> less...

Unless it's iocaine powder and you're in Australia...

jb



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