Re: Re: Progressive Information Aggregation Institutions?

[Jim Devine]

At 01:13 PM 11/30/00 -0500, you wrote:
>Whose estimate should determine actions?  A vote among everyone? A vote
>among a random jury?  Administrative agency experts? A panel of
>distinguished academics?

a vote among everyone seems needed to decide general principles. Experts 
and academics can advise the voters. Votes among those most affected seem 
appropriate for specific cases, under the rules set by general principles. 
A betting market encourages people to compete instead of working together 
on these issues, which is an error when external costs and benefits are so 
prevalent.

Jim Devine [EMAIL PROTECTED] &  http://bellarmine.lmu.edu/~jdevine