Mr Smith, XVIII century’s great grand-father of modern economics, devised the power of the market as the main driver (anyone for the “invisible hand”?). As in “A Beautiful Mind” we can hear: “every man for himself”, because the own interest will tend to get the main group’s interest. Following Mr Nash’s intervention, in fact, prior group negotiation is needed in order to obtain individual interest (this is the basis for collaborative games which it was thought to be the foundations for cutting edge game theory, however, later on, John Nash demonstrated that it really was non-collaborative ones). Let’s watch it:
Get a group of people into an office for a 3-day weekend and they would come with a great idea for creating a company. Well, sorry, they’ll create a company. Which one is the latest created company by means of this methodology?: VOSNAP.
They define this web application (of course, is a dotcom) as a "social quick voting tool that reduces group think and time wasted on decision-making by giving you the ability to receive a quick vote from a group of friends on any decision. Users can create a poll, send it to their friends to quickly vote on via text message or email, and receive the results instantly". So, a dictatorship of the masses?, is this prefered to the dictatorship of the leaders?, or is it better a technocracy?. Actually, I didn’t want to convert this post into a political one, but discuss about the ways a decision can be taken, if the application (VOSP) was really breakthrough, and if the Startup Weekend was really effective. However, as always, I’ve ended up changing mood after quite a few words and just letting you finish the quarrel (in Spain we say: "tirar la piedra y esconder la mano", this is, "throw the stone and hide the hand", ringing the bell and running like hell!).
PS The quote in question was a Pytagoras’ one: “Choose always the way that seems the best, however rough it may be. Custom will soon render it easy and agreeable”. I still apply it to my life!
Posted in decision theory by Francisco Marco-Serrano @ Nov 28, 2005
For every problem more than one solution. Lucky person that one of the saying!. I am the sort one that will be finding multiple problems and no solution at all!!! Well, being positive, I´m just about to find one solution to every problem, thanks to what I’ve been told.
Last week I attended a seminar on practical purchasing. This seminar was organised by WM-MAS, and these people are really good. I was talking to both Manufacturing Advisors (see the web) and Stewart just mention about this brand new method which name I cannot remember (sorry!) in order to solve manufacturing/engineering problems. It seems that 99.9% of all of this sort of problems have already been found a solution for, so the method is to develop an algorithm that finds out what’s the solution for your problem. Brilliant!!!. Unless your’re me, unlucky me probably will find myself in the other not already solved 0.1%.
Posted in decision theory by Francisco Marco-Serrano @ Sep 30, 2005
Reviewing the decision theory I have arrived to an important decision, I don’t know which decision making technique I have to choose. All the relevant information leads to an uncertain information model which, following my mood, should in no way try to reach an optimistic solution (!).
I know what I’ll do. I’ll carry on with the best technique, the one most used all over the world: I’ll toss a coin. No, it’s not a 50%-50% solution; I found a way to get tails nine out of ten times. Yes, still uncertain!.
