The Electric Commentary

Tuesday, October 19, 2004

Swamped

I've been trying to write about football and give an election endorsement, but it's going to be a busy week. Fortunately, because of the Dallas Cowboys clock operator I was able to do the dishes, clean the bathroom, take out the trash, and get in some light reading in under one second, so I should be able to get to a few things tomorrow. To keep you busy:

Someone's been manipulating the Tradesports futures market:

Should Luskin be worried that his candidate is being sold down? Not at all. A surprising result in these markets is that manipulators subsidize information traders. Think about it this way, by definition manipulators aren't trying to predict the true outcome so they are likely to take losses and the more they try to manipulate the bigger the losses. Now if the manipulators are taking losses who is making money? The information traders! Manipulators, therefore, encourage and support the information traders. Manipulation isn't impossible but it's surprising how little information other trader's need to not only avoid the manipulation but to profit from it.

From Alex Tabarrok of Marginal Revolution commenting on this post by Donald Luskin.

Andrew Sullivan has the endorsement you've all been waiting for here. Hopefully they don't all space on the date.

And Randall Parker has this fascinating article on fast cheap space travel.

And there's a new TMQ.

And you have probably already heard Jon Stewart call Tucker Carlson a "big dick" but in case you haven't, here is the Crossfire transcript. Or you can watch it here.

That should hold you for a day.


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