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Old 01-31-2002, 12:26 PM
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Default there is another cure: insider trading



I stated the main reason marker evolution is inevitable is because of the very high cost of firsthand information or direct examination.


But of course, this cost is asymmetric - insiders have no need to use markers. So prices should be set by those with the lowest information-acquisiton cost.


Then, the cheapest marker of all - THE PRICE - will be accurate!


(This is much less expensive than arbitrarily discarding cheap markers - at the same time as they are still enhancing survival patterns among your competitors - as any alternative "marker" is, by its very untested nature, similarly dubious.)


leroy
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