Price-Based vs Event-Based BTC Forecasting

One reason I got out of stock trading and into crypto trading years ago is because it was clear that stocks were being driven by events and news much more than fundamentals, and it was nearly impossible for me to keep up with the events and news. I think many people shared this concern, and … Read more Price-Based vs Event-Based BTC Forecasting

Economic Calculation is Possible Without Prices

I argue three key points in this article. First, there are parameters which can substitute for prices to make any economic problem solvable. Second, prices themselves cannot emerge without these priors, so the priors are logically superior in necessity. Third, it’s possible for a single mind to plan the economy of a group in a … Read more Economic Calculation is Possible Without Prices

Rational Estimation and Price Under Uncertainty

This article talks about ways to deal with uncertainty, and I will also briefly define the concept in contrast with simple risk. Definitions: Uncertainty vs Risk Rational Estimation without Uncertainty Rational Estimation with Uncertainty 1 – Definitions: Uncertainty vs Risk Uncertainty and risk are both not simple economic phenomena. They are generic elements of complex … Read more Rational Estimation and Price Under Uncertainty

Summing Budget Lines Does Not Derive the Demand Curve

It’s a common exercise in undergraduate economics to sum individual budget constraints to derive a market demand curve, but this is wrong. Budget constraints are immune to changes in individual preference, but demand is not. Budget constraints do not include economic cost, but quantities demanded do include preference and economic cost information (see point 5) … Read more Summing Budget Lines Does Not Derive the Demand Curve