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"You have to budget the number of fuzzy rules you use to control a system. It turns out, you can state the optimality principle in three words: 'patch the bumps.'"
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One of the key ideas in Shockwave Rider is the notion of a Delphi group, or Delphi pool. Read on for Brunner's explanation from the book.
Perhaps the most striking attempt to make use of this kind of idea was the Policy Analysis Market (PAM), a proposed futures exchange developed by our friends at the Defense Advanced Research Projects Agency (DARPA). PAM was intended to be a kind of "futures market" for the Middle East; investors could trade futures based on political outcomes in the region.
The idea is that the monetary value of a particular "future" (a stated outcome in Middle East politics) would tend to increase as the outcome became more likely. That is, the value of a futures issue would tend to reflect the relative likelihood of that future actually occurring.
Unfortunately, it turned out that PAM would allow trading in such events as coup d'etats and assassinations; the resulting uproar caused the cancellation of PAM.
The name "Delphi pool" is derived from the pythia, or priestesses, of Delphi in ancient Greece. The pythia would take questions and make predictions (which modern-day geologists attribute to hydrocarbon gasses like ethylene, which bubbled up from the faults in the region).
Read more about the Policy Analysis Market. Comment/Join this discussion ( 4 ) | RSS/XML | Blog This | Additional
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