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	<title>Comments on: Music to My Ears</title>
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	<link>http://www.willwilkinson.net/flybottle/2009/09/24/music-to-my-ears/</link>
	<description>The Sweet Release of Reason</description>
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		<title>By: angelia110</title>
		<link>http://www.willwilkinson.net/flybottle/2009/09/24/music-to-my-ears/comment-page-1/#comment-594013</link>
		<dc:creator>angelia110</dc:creator>
		<pubDate>Fri, 09 Oct 2009 11:50:18 +0000</pubDate>
		<guid isPermaLink="false">http://www.willwilkinson.net/flybottle/?p=3792#comment-594013</guid>
		<description>&lt;h2 align=&quot;center&quot;&gt;Costs For Uggs--What It Costs?&lt;/h2&gt;&lt;br&gt;&lt;p&gt;--&gt;Are you lusting after a few (or even more) &lt;a href=&quot;http://www.goodugg.co.uk/ugg-classic-cardy-c-161.html&quot; rel=&quot;nofollow&quot;&gt;Ugg boots&lt;/a&gt;   and if so, you&#039;re in good company, as girls and women of all ages, especially with the simple, slipper-like design of these sheepskin &lt;a href=&quot;http://www.goodugg.co.uk/grey-ugg-boots-5819-classic-cardy-p-23458.html&quot; rel=&quot;nofollow&quot;&gt;ugg boots sale &lt;/a&gt;, which are relatively easy and very comfortable to wear. And they appear to be affected. Some men are also jumping on the trend and luxury UGGs? Australia, the brand also offers a range of contemporary styles for them.&lt;/p&gt;&lt;br&gt;&lt;p&gt;--&gt;Could you mind giving everyone loves from &lt;a href=&quot;http://www.goodugg.co.uk/ugg-classic-tall-c-162.html&quot; rel=&quot;nofollow&quot;&gt;ugg classic &lt;/a&gt;? There are so many types of uggs, &lt;a href=&quot;http://www.goodugg.co.uk/ugg-bailey-button-c-178.html?zenid=847c0f495b87cb43928dcc19d09f4019&quot; rel=&quot;nofollow&quot;&gt;ugg bailey button&lt;/a&gt;,ugg &lt;a href=&quot;http://www.goodugg.co.uk/ugg-classic-tall-c-162.html&quot; rel=&quot;nofollow&quot;&gt;classic tall&lt;/a&gt;, ugg &lt;a href=&quot;http://www.goodugg.co.uk/ugg-classic-short-c-160.html&quot; rel=&quot;nofollow&quot;&gt;classic short&lt;/a&gt;, ugg &lt;a href=&quot;http://www.goodugg.co.uk/ugg-classic-cardy-c-161.html&quot; rel=&quot;nofollow&quot;&gt;classic cardy&lt;/a&gt;. How to choose your favorite? Or do you really want to one uggs regardless its style? Despite their design is  awkward and slipper-lile, &lt;a href=&quot;http://www.goodugg.co.uk/&quot; rel=&quot;nofollow&quot;&gt;Uggs&lt;/a&gt; is  one of the few stations that are of general interest, have argued that cross  generational lines.&lt;/p&gt;&lt;br&gt;&lt;p&gt;--&gt;Young people, students and young mothers  and the Middle Ages, the original Black &lt;a href=&quot;http://www.goodugg.co.uk/ugg-ultra-tall-c-167.html&quot; rel=&quot;nofollow&quot;&gt;Ultra  Tall UGG Boots&lt;/a&gt;, seem pulled the fleecy-lined boots that are manufactured in Australia, with the best materials.  Are you sure that your feet warm in winter without socks, and cool in summer so  that is more versatile too? If no, hurry up to take one &lt;strong&gt;ugg boots &lt;/strong&gt;on &lt;a href=&quot;http://www.goodugg.co.uk/ugg-classic-tall-c-162.html&quot; rel=&quot;nofollow&quot;&gt;uggs on sale&lt;/a&gt; ! That&#039;s why we see people wear them in schools,  supermarkets, on the slopes and even in the most popular beaches in the United  States and abroad. Many surfers also use uggs to keep their feet warm.&lt;/p&gt;&lt;br&gt;&lt;p&gt;--&gt;What do you really care about? Is its price  or quality, or you just following the general trend? You know what are you  thinking in your heart!&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>&lt;h2 align=&#8221;center&#8221;&gt;Costs For Uggs&#8211;What It Costs?&lt;/h2&gt;
<p>&#8211;&gt;Are you lusting after a few (or even more) <a href="http://www.goodugg.co.uk/ugg-classic-cardy-c-161.html" rel="nofollow">Ugg boots</a>   and if so, you&#39;re in good company, as girls and women of all ages, especially with the simple, slipper-like design of these sheepskin <a href="http://www.goodugg.co.uk/grey-ugg-boots-5819-classic-cardy-p-23458.html" rel="nofollow">ugg boots sale </a>, which are relatively easy and very comfortable to wear. And they appear to be affected. Some men are also jumping on the trend and luxury UGGs? Australia, the brand also offers a range of contemporary styles for them.</p>
<p>
<p>&#8211;&gt;Could you mind giving everyone loves from <a href="http://www.goodugg.co.uk/ugg-classic-tall-c-162.html" rel="nofollow">ugg classic </a>? There are so many types of uggs, <a href="http://www.goodugg.co.uk/ugg-bailey-button-c-178.html?zenid=847c0f495b87cb43928dcc19d09f4019" rel="nofollow">ugg bailey button</a>,ugg <a href="http://www.goodugg.co.uk/ugg-classic-tall-c-162.html" rel="nofollow">classic tall</a>, ugg <a href="http://www.goodugg.co.uk/ugg-classic-short-c-160.html" rel="nofollow">classic short</a>, ugg <a href="http://www.goodugg.co.uk/ugg-classic-cardy-c-161.html" rel="nofollow">classic cardy</a>. How to choose your favorite? Or do you really want to one uggs regardless its style? Despite their design is  awkward and slipper-lile, <a href="http://www.goodugg.co.uk/" rel="nofollow">Uggs</a> is  one of the few stations that are of general interest, have argued that cross  generational lines.</p>
<p>
<p>&#8211;&gt;Young people, students and young mothers  and the Middle Ages, the original Black <a href="http://www.goodugg.co.uk/ugg-ultra-tall-c-167.html" rel="nofollow">Ultra  Tall UGG Boots</a>, seem pulled the fleecy-lined boots that are manufactured in Australia, with the best materials.  Are you sure that your feet warm in winter without socks, and cool in summer so  that is more versatile too? If no, hurry up to take one <strong>ugg boots </strong>on <a href="http://www.goodugg.co.uk/ugg-classic-tall-c-162.html" rel="nofollow">uggs on sale</a> ! That&#39;s why we see people wear them in schools,  supermarkets, on the slopes and even in the most popular beaches in the United  States and abroad. Many surfers also use uggs to keep their feet warm.</p>
<p>
<p>&#8211;&gt;What do you really care about? Is its price  or quality, or you just following the general trend? You know what are you  thinking in your heart!</p>
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		<title>By: Mr. Econotarian</title>
		<link>http://www.willwilkinson.net/flybottle/2009/09/24/music-to-my-ears/comment-page-1/#comment-593905</link>
		<dc:creator>Mr. Econotarian</dc:creator>
		<pubDate>Tue, 29 Sep 2009 22:33:45 +0000</pubDate>
		<guid isPermaLink="false">http://www.willwilkinson.net/flybottle/?p=3792#comment-593905</guid>
		<description>The challenge is that government is just as likely, if not more likely, to act irrationally than market participants.&lt;br&gt;&lt;br&gt;While large banks were mis-reading CDO risk, government was funding no-money-down loans through the FHA, extending an implicit backstop to Fannie and Freddie, and trumpeting how good it was that homeownership levels were so high.&lt;br&gt;&lt;br&gt;Is it truly likely that a government entity will have a more accurate viewpoint on an economic situation than the majority of market participants?&lt;br&gt;&lt;br&gt;I think it is likely that government regulation is useful for correcting the few outliers in terms of risk, but is unlikely to be ahead of the majority of market participants.&lt;br&gt;&lt;br&gt;If government was ahead of participants, they could simply quit the government and take an opposite market position and make lots of $$$</description>
		<content:encoded><![CDATA[<p>The challenge is that government is just as likely, if not more likely, to act irrationally than market participants.</p>
<p>While large banks were mis-reading CDO risk, government was funding no-money-down loans through the FHA, extending an implicit backstop to Fannie and Freddie, and trumpeting how good it was that homeownership levels were so high.</p>
<p>Is it truly likely that a government entity will have a more accurate viewpoint on an economic situation than the majority of market participants?</p>
<p>I think it is likely that government regulation is useful for correcting the few outliers in terms of risk, but is unlikely to be ahead of the majority of market participants.</p>
<p>If government was ahead of participants, they could simply quit the government and take an opposite market position and make lots of $$$</p>
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		<title>By: Tremulous</title>
		<link>http://www.willwilkinson.net/flybottle/2009/09/24/music-to-my-ears/comment-page-1/#comment-593876</link>
		<dc:creator>Tremulous</dc:creator>
		<pubDate>Tue, 29 Sep 2009 01:28:05 +0000</pubDate>
		<guid isPermaLink="false">http://www.willwilkinson.net/flybottle/?p=3792#comment-593876</guid>
		<description>The Tversky-Kahneman results allow people to be money pumped.  They will pay to move from state A to state B, pay to move from B to C, and pay to move from C to A.  Regardless of definitions this is certainly irrational.</description>
		<content:encoded><![CDATA[<p>The Tversky-Kahneman results allow people to be money pumped.  They will pay to move from state A to state B, pay to move from B to C, and pay to move from C to A.  Regardless of definitions this is certainly irrational.</p>
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		<title>By: sam</title>
		<link>http://www.willwilkinson.net/flybottle/2009/09/24/music-to-my-ears/comment-page-1/#comment-593870</link>
		<dc:creator>sam</dc:creator>
		<pubDate>Fri, 25 Sep 2009 20:15:08 +0000</pubDate>
		<guid isPermaLink="false">http://www.willwilkinson.net/flybottle/?p=3792#comment-593870</guid>
		<description>A little Pascal might have given pause to the rational action theorists in economy. You know, the bit where he says:&lt;br&gt;&lt;br&gt;&quot;The heart has reasons that reason cannot know.&quot;&lt;br&gt;&lt;br&gt;Oh, and a close reading of any great novelist would be salutary. Or reflection on a busted love affair.</description>
		<content:encoded><![CDATA[<p>A little Pascal might have given pause to the rational action theorists in economy. You know, the bit where he says:</p>
<p>&#8220;The heart has reasons that reason cannot know.&#8221;</p>
<p>Oh, and a close reading of any great novelist would be salutary. Or reflection on a busted love affair.</p>
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		<title>By: zaph</title>
		<link>http://www.willwilkinson.net/flybottle/2009/09/24/music-to-my-ears/comment-page-1/#comment-593868</link>
		<dc:creator>zaph</dc:creator>
		<pubDate>Fri, 25 Sep 2009 15:22:10 +0000</pubDate>
		<guid isPermaLink="false">http://www.willwilkinson.net/flybottle/?p=3792#comment-593868</guid>
		<description>I&#039;m taking a behavioral finance class this semester, and just read the article on Prospect theory by Kahneman and Tversky. It&#039;s interesting that they didn&#039;t call the decisions being made that contradicted utility theory as being necessarily irrational. They certainly saw problems with how people figured odds, but it isn&#039;t necessarily irrational to be more adverse to loss vs. gain, as they described in their article.</description>
		<content:encoded><![CDATA[<p>I&#39;m taking a behavioral finance class this semester, and just read the article on Prospect theory by Kahneman and Tversky. It&#39;s interesting that they didn&#39;t call the decisions being made that contradicted utility theory as being necessarily irrational. They certainly saw problems with how people figured odds, but it isn&#39;t necessarily irrational to be more adverse to loss vs. gain, as they described in their article.</p>
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		<title>By: simonkinahan</title>
		<link>http://www.willwilkinson.net/flybottle/2009/09/24/music-to-my-ears/comment-page-1/#comment-593866</link>
		<dc:creator>simonkinahan</dc:creator>
		<pubDate>Thu, 24 Sep 2009 22:25:03 +0000</pubDate>
		<guid isPermaLink="false">http://www.willwilkinson.net/flybottle/?p=3792#comment-593866</guid>
		<description>I couldn&#039;t get past the horrible misrepresentation of the rational expectations hypothesis. Are you sure these people are actually economists?</description>
		<content:encoded><![CDATA[<p>I couldn&#39;t get past the horrible misrepresentation of the rational expectations hypothesis. Are you sure these people are actually economists?</p>
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		<title>By: j r</title>
		<link>http://www.willwilkinson.net/flybottle/2009/09/24/music-to-my-ears/comment-page-1/#comment-593865</link>
		<dc:creator>j r</dc:creator>
		<pubDate>Thu, 24 Sep 2009 18:38:14 +0000</pubDate>
		<guid isPermaLink="false">http://www.willwilkinson.net/flybottle/?p=3792#comment-593865</guid>
		<description>this same observation can be extended beyond economic policy.  there is no end to those who agitate for changes in public policy based on the idea that they know the &quot;reasonable&quot; amount of secondhand smoke, trans fat, coca cola, bandwith, MRIs, etc...  that each person &quot;ought&quot; to have.&lt;br&gt;&lt;br&gt;if for a moment, however, we allow for the possibility that we all have different indifference curves and value all these things at different levels, then, as frydman and goldberg state, it might, &quot;require policymakers to exercise discretion, rather than simply rely on fixed rules.&quot;&lt;br&gt;&lt;br&gt;of course, those with the most powerful voices in the public policy process like having fixed rules.  it allows them to better plan their strategies and allocate their resources most efficiently.  perhaps the rational operation of the political market will forever be an obstacle the the rational operations of all other markets.</description>
		<content:encoded><![CDATA[<p>this same observation can be extended beyond economic policy.  there is no end to those who agitate for changes in public policy based on the idea that they know the &#8220;reasonable&#8221; amount of secondhand smoke, trans fat, coca cola, bandwith, MRIs, etc&#8230;  that each person &#8220;ought&#8221; to have.</p>
<p>if for a moment, however, we allow for the possibility that we all have different indifference curves and value all these things at different levels, then, as frydman and goldberg state, it might, &#8220;require policymakers to exercise discretion, rather than simply rely on fixed rules.&#8221;</p>
<p>of course, those with the most powerful voices in the public policy process like having fixed rules.  it allows them to better plan their strategies and allocate their resources most efficiently.  perhaps the rational operation of the political market will forever be an obstacle the the rational operations of all other markets.</p>
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		<title>By: Hunter</title>
		<link>http://www.willwilkinson.net/flybottle/2009/09/24/music-to-my-ears/comment-page-1/#comment-593864</link>
		<dc:creator>Hunter</dc:creator>
		<pubDate>Thu, 24 Sep 2009 16:54:43 +0000</pubDate>
		<guid isPermaLink="false">http://www.willwilkinson.net/flybottle/?p=3792#comment-593864</guid>
		<description>Some of the comments here are probably apropos:&lt;br&gt;&lt;a href=&quot;http://www.guardian.co.uk/books/2009/aug/30/keynes-return-master-robert-skidelsky&quot; rel=&quot;nofollow&quot;&gt;http://www.guardian.co.uk/books/2009/aug/30/key...&lt;/a&gt;</description>
		<content:encoded><![CDATA[<p>Some of the comments here are probably apropos:<br /><a href="http://www.guardian.co.uk/books/2009/aug/30/keynes-return-master-robert-skidelsky" rel="nofollow"></a><a href="http://www.guardian.co.uk/books/2009/aug/30/key.." rel="nofollow">http://www.guardian.co.uk/books/2009/aug/30/key..</a>.</p>
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