Welcome to the new version of European Tribune. It's just a new layout, so everything should work as before - please report bugs here.
The presence of intermediaries in markets completely fucks them up, to use a technical term.

yup, and then the kiss of death... when the bets start on events.

look at sports, how many thrown games!

there's your precious 'market forces' aka invisible hand, the collective power to distort reality by the pressure of waves of wild hunches and greed-crazed schemes.

"A fool with a tool is still a fool." - Abraham Verghese

by melo (melometa4(at)gmail.com) on Sat Feb 4th, 2012 at 06:56:00 AM EST
[ Parent ]
Hang on, melo, there have been bets on events as long as there have been events.

And of course, events have from time to time been rigged as a result.

My point is in relation to the allocation of resources: nothing more, and nothing less.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Sat Feb 4th, 2012 at 07:18:44 AM EST
[ Parent ]
i wasn't intending to mean that was what you said, Chris.

your comment just triggered mine, s'all.

orthogonal... it's (rarely?) the creators/producers or the purchasers who game systems.

it starts with the intermediaries, which then become amenable to betting forces, which if they remained a commentary would be just dubious, but when they start to push events things are f'ed up bigtime. where would the the betters access the chain of events if not through the said intermediaries?

please tell me i'm full of it if that's the case. it just appears that way to me, ignorant wally that i am :)

"A fool with a tool is still a fool." - Abraham Verghese

by melo (melometa4(at)gmail.com) on Sat Feb 4th, 2012 at 08:06:58 AM EST
[ Parent ]


Top Diaries

A Tale Of Two OCAs?

by afew - Apr 20

Oil Market: Follow the Money

by ChrisCook - Apr 20

On the RhB 3: the Davos Line

by DoDo - Apr 11

Occasional Series