Hélène Landemore
- Published in print:
- 2012
- Published Online:
- October 2017
- ISBN:
- 9780691155654
- eISBN:
- 9781400845538
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691155654.003.0006
- Subject:
- Political Science, Political Theory
This chapter argues that majority rule is a useful complement of inclusive deliberation, not just because majority rule is more efficient timewise, but because it has distinct epistemic properties of ...
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This chapter argues that majority rule is a useful complement of inclusive deliberation, not just because majority rule is more efficient timewise, but because it has distinct epistemic properties of its own. It also stresses that majority rule is best designed for collective prediction—that is, the identification of the best options out of those selected during the deliberative phase. Of all the competing alternatives (rule of one or rule of the few), majority rule maximizes the chances of predicting the right answer among the proposed options. The chapter considers several accounts of the epistemic properties of majority rule, including the Condorcet Jury Theorem, the Miracle of Aggregation, and a more fine-grained model based on cognitive diversity.Less
This chapter argues that majority rule is a useful complement of inclusive deliberation, not just because majority rule is more efficient timewise, but because it has distinct epistemic properties of its own. It also stresses that majority rule is best designed for collective prediction—that is, the identification of the best options out of those selected during the deliberative phase. Of all the competing alternatives (rule of one or rule of the few), majority rule maximizes the chances of predicting the right answer among the proposed options. The chapter considers several accounts of the epistemic properties of majority rule, including the Condorcet Jury Theorem, the Miracle of Aggregation, and a more fine-grained model based on cognitive diversity.
Kartik B. Athreya
- Published in print:
- 2013
- Published Online:
- May 2014
- ISBN:
- 9780262019736
- eISBN:
- 9780262314404
- Item type:
- book
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262019736.001.0001
- Subject:
- Economics and Finance, Macro- and Monetary Economics
In the wake of recent events, macroeconomics has come under intense scrutiny, often from non-economists. Yet because macroeconomics is now a highly technical undertaking, it will be very hard for ...
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In the wake of recent events, macroeconomics has come under intense scrutiny, often from non-economists. Yet because macroeconomics is now a highly technical undertaking, it will be very hard for non-specialists on their own to sift through the body of knowledge we have accumulated, or to assess the manner in which we structure inquiries. Unless one finds this satisfactory, and I do not, the profession has some work to do. This book is an attempt to describe, in entirely nontechnical (i.e. plain English) terms, where modern macroeconomics gets its ideas from and how it goes about its business. The target audience is that of thoughtful and curious readers who lack the narrow background or time needed to read either advanced textbooks or articles in academic economics journals.Less
In the wake of recent events, macroeconomics has come under intense scrutiny, often from non-economists. Yet because macroeconomics is now a highly technical undertaking, it will be very hard for non-specialists on their own to sift through the body of knowledge we have accumulated, or to assess the manner in which we structure inquiries. Unless one finds this satisfactory, and I do not, the profession has some work to do. This book is an attempt to describe, in entirely nontechnical (i.e. plain English) terms, where modern macroeconomics gets its ideas from and how it goes about its business. The target audience is that of thoughtful and curious readers who lack the narrow background or time needed to read either advanced textbooks or articles in academic economics journals.
Joseph Raz
- Published in print:
- 2011
- Published Online:
- January 2012
- ISBN:
- 9780199693818
- eISBN:
- 9780191731907
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199693818.003.0010
- Subject:
- Philosophy, Moral Philosophy
The conformity principle is defended, and shown to be the basic principle that points to the limited degree to which aggregation has a role in practical thought. Scanlon’s contractualist thesis is ...
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The conformity principle is defended, and shown to be the basic principle that points to the limited degree to which aggregation has a role in practical thought. Scanlon’s contractualist thesis is considered and his arguments criticised in so far as they aim to provide a solution to problems of conflicts of reasons.Less
The conformity principle is defended, and shown to be the basic principle that points to the limited degree to which aggregation has a role in practical thought. Scanlon’s contractualist thesis is considered and his arguments criticised in so far as they aim to provide a solution to problems of conflicts of reasons.
Graham Bullock
- Published in print:
- 2017
- Published Online:
- May 2018
- ISBN:
- 9780262036429
- eISBN:
- 9780262340984
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262036429.003.0007
- Subject:
- Environmental Science, Environmental Studies
Chapter 7 synthesizes the results from the previous chapters in a discussion of the idea of information realism and its cousin, green realism. It acknowledges the valid points that the optimist and ...
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Chapter 7 synthesizes the results from the previous chapters in a discussion of the idea of information realism and its cousin, green realism. It acknowledges the valid points that the optimist and pessimist sides of the debate have made about the role of information-based governance strategies, while also highlighting the shortcomings of these two opposing perspectives. It outlines three possible futures for information-based governance strategies – one that heeds the concerns of skeptics and lessons learned discussed in this book, one that ignores them, which will lead to their further loss of support and effectiveness, and a third that is based on the insights of information realism presented in the book. In particular, the chapter highlights the importance of creating linkages between information-based governance strategies and traditional regulation-based approaches and efforts to change industry norms more broadly. It returns to the green decision scenarios posed in Chapter 1, and offers specific recommendations for designers, users, and policymakers who are interested in improving the effectiveness of information-based environmental governance strategies.Less
Chapter 7 synthesizes the results from the previous chapters in a discussion of the idea of information realism and its cousin, green realism. It acknowledges the valid points that the optimist and pessimist sides of the debate have made about the role of information-based governance strategies, while also highlighting the shortcomings of these two opposing perspectives. It outlines three possible futures for information-based governance strategies – one that heeds the concerns of skeptics and lessons learned discussed in this book, one that ignores them, which will lead to their further loss of support and effectiveness, and a third that is based on the insights of information realism presented in the book. In particular, the chapter highlights the importance of creating linkages between information-based governance strategies and traditional regulation-based approaches and efforts to change industry norms more broadly. It returns to the green decision scenarios posed in Chapter 1, and offers specific recommendations for designers, users, and policymakers who are interested in improving the effectiveness of information-based environmental governance strategies.
Phanish Puranam
- Published in print:
- 2018
- Published Online:
- July 2018
- ISBN:
- 9780199672363
- eISBN:
- 9780191864292
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780199672363.001.0001
- Subject:
- Business and Management, Organization Studies
This book synthesizes a decade of research by the author into fundamental issues in organization design. The result is a novel micro-structural perspective on organizations, which aims to both expand ...
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This book synthesizes a decade of research by the author into fundamental issues in organization design. The result is a novel micro-structural perspective on organizations, which aims to both expand and narrow current thinking. The new perspective takes an expansive view on the kinds of phenomena that can be studied in terms of organization design- such as cross–functional teams, strategic partnerships, buyer-supplier relations, alliance networks, mega-projects, post-merger integration, business groups, open source communities, and crowdsourcing, besides traditional concerns with bureaucratic organizations. At the same time, this approach narrows focus by abstracting away from the variety and complexity of organizations to a few fundamental and universal problems of organizing (that relate to how they aggregate their members’ efforts), as well as a few reusable building blocks microstructures (which capture common patterns of interaction between members of an organization). The microstructural approach to organizations will be of interest to researchers and PhD students in management, organization science, and strategyLess
This book synthesizes a decade of research by the author into fundamental issues in organization design. The result is a novel micro-structural perspective on organizations, which aims to both expand and narrow current thinking. The new perspective takes an expansive view on the kinds of phenomena that can be studied in terms of organization design- such as cross–functional teams, strategic partnerships, buyer-supplier relations, alliance networks, mega-projects, post-merger integration, business groups, open source communities, and crowdsourcing, besides traditional concerns with bureaucratic organizations. At the same time, this approach narrows focus by abstracting away from the variety and complexity of organizations to a few fundamental and universal problems of organizing (that relate to how they aggregate their members’ efforts), as well as a few reusable building blocks microstructures (which capture common patterns of interaction between members of an organization). The microstructural approach to organizations will be of interest to researchers and PhD students in management, organization science, and strategy
Rob Merkin and Jenny Steele
- Published in print:
- 2013
- Published Online:
- September 2013
- ISBN:
- 9780199645749
- eISBN:
- 9780191747823
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199645749.003.0012
- Subject:
- Law, Law of Obligations
Explores the role of insurance in asbestos litigation in respect of mesothelioma. Shows how and why the Trigger Litigation though ostensibly concerned with insurance cover required the courts to ...
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Explores the role of insurance in asbestos litigation in respect of mesothelioma. Shows how and why the Trigger Litigation though ostensibly concerned with insurance cover required the courts to determine the nature of the legal principles developed in earlier tort cases. Argues that the development of the law in these cases would have been vacuous without an expectation that insurance would be in place to respond to the liabilities, and emphasises that insurers were involved at every step of the litigation. Explains that it is now plain that tort claims are made in relation to harm suffered, rather than the risk of harm, and that no manipulation of policy terms or insurance law principles was required to match the liabilities to the cover. Explains that as between insurers and reinsurers, litigation over the division and location of liabilities continues, identifying key issues that remain to be resolved.Less
Explores the role of insurance in asbestos litigation in respect of mesothelioma. Shows how and why the Trigger Litigation though ostensibly concerned with insurance cover required the courts to determine the nature of the legal principles developed in earlier tort cases. Argues that the development of the law in these cases would have been vacuous without an expectation that insurance would be in place to respond to the liabilities, and emphasises that insurers were involved at every step of the litigation. Explains that it is now plain that tort claims are made in relation to harm suffered, rather than the risk of harm, and that no manipulation of policy terms or insurance law principles was required to match the liabilities to the cover. Explains that as between insurers and reinsurers, litigation over the division and location of liabilities continues, identifying key issues that remain to be resolved.
Rob Merkin and Jenny Steele
- Published in print:
- 2013
- Published Online:
- September 2013
- ISBN:
- 9780199645749
- eISBN:
- 9780191747823
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199645749.003.0003
- Subject:
- Law, Law of Obligations
Introduces the nature of the insurance contract and its distinctive features. Sets out the main classes of insurance and the definition of insurance business for the purposes of regulation. Outlines ...
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Introduces the nature of the insurance contract and its distinctive features. Sets out the main classes of insurance and the definition of insurance business for the purposes of regulation. Outlines the drafting process and the sources of law in relation to insurance contracts. Explores the manner in which risks and the market for insurance have evolved in tandem. Explains the distinction between first party and third party (liability) insurance. Outlines the history and key forms of liability insurance; questions the assumption that liability insurance was initially seen as raising unique questions of legality or public policy; and identifies key issues in relation to triggering events; aggregation of losses; and interpretation of policy terms.Less
Introduces the nature of the insurance contract and its distinctive features. Sets out the main classes of insurance and the definition of insurance business for the purposes of regulation. Outlines the drafting process and the sources of law in relation to insurance contracts. Explores the manner in which risks and the market for insurance have evolved in tandem. Explains the distinction between first party and third party (liability) insurance. Outlines the history and key forms of liability insurance; questions the assumption that liability insurance was initially seen as raising unique questions of legality or public policy; and identifies key issues in relation to triggering events; aggregation of losses; and interpretation of policy terms.
Nayan B. Ruparelia
- Published in print:
- 2016
- Published Online:
- September 2016
- ISBN:
- 9780262529099
- eISBN:
- 9780262334129
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262529099.003.0002
- Subject:
- Computer Science, Programming
Cloud computing has five key characteristics: a) Broad network access, b) On-demand self-service, c) Resource pooling or shared services d) Rapid elasticity and e) Measured Service. Each of these ...
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Cloud computing has five key characteristics: a) Broad network access, b) On-demand self-service, c) Resource pooling or shared services d) Rapid elasticity and e) Measured Service. Each of these characteristics needs to be present to qualify a cloud service. New concepts to the analysis and use of cloud computing are developed. One such concept uses cloud relationships: aggregation, composition and federation. Another concept is that of cloud cells, somewhat akin to cloud gears but with greater functionality from an object oriented perspective. Cloud cells provide specialization as they have only one function, such as data storage, providing a database service or web services, for example. Applying these two novel concepts means that you can re-use cloud cells and, through various combinations, create a variety of cloud services. This approach is extended further by creating cloud patterns. These describe distinct use cases based upon a combination of cloud cells and their relationships.Less
Cloud computing has five key characteristics: a) Broad network access, b) On-demand self-service, c) Resource pooling or shared services d) Rapid elasticity and e) Measured Service. Each of these characteristics needs to be present to qualify a cloud service. New concepts to the analysis and use of cloud computing are developed. One such concept uses cloud relationships: aggregation, composition and federation. Another concept is that of cloud cells, somewhat akin to cloud gears but with greater functionality from an object oriented perspective. Cloud cells provide specialization as they have only one function, such as data storage, providing a database service or web services, for example. Applying these two novel concepts means that you can re-use cloud cells and, through various combinations, create a variety of cloud services. This approach is extended further by creating cloud patterns. These describe distinct use cases based upon a combination of cloud cells and their relationships.
Kara Bridgman Sweeney
- Published in print:
- 2018
- Published Online:
- January 2019
- ISBN:
- 9781683400349
- eISBN:
- 9781683401001
- Item type:
- chapter
- Publisher:
- University Press of Florida
- DOI:
- 10.5744/florida/9781683400349.003.0011
- Subject:
- Archaeology, Prehistoric Archaeology
The author uses Social Network Analysis (SNA) to remodel a large, previously collected database of Early Archaic, side-notched artifacts where multiple overlapping scales of social interaction were ...
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The author uses Social Network Analysis (SNA) to remodel a large, previously collected database of Early Archaic, side-notched artifacts where multiple overlapping scales of social interaction were previously indicated. Using stone tool attributes, degrees of interaction are plotted over the South Atlantic and Florida Coastal Plain, suggesting social connections including aggregation spaces.Less
The author uses Social Network Analysis (SNA) to remodel a large, previously collected database of Early Archaic, side-notched artifacts where multiple overlapping scales of social interaction were previously indicated. Using stone tool attributes, degrees of interaction are plotted over the South Atlantic and Florida Coastal Plain, suggesting social connections including aggregation spaces.
Neill J. Wallis
- Published in print:
- 2014
- Published Online:
- September 2014
- ISBN:
- 9780813049366
- eISBN:
- 9780813050140
- Item type:
- chapter
- Publisher:
- University Press of Florida
- DOI:
- 10.5744/florida/9780813049366.003.0013
- Subject:
- Archaeology, Prehistoric Archaeology
Considerations of ritual in archaeology are often focused on mortuary practices and the deposition of finely crafted objects. From this perspective, ceremonialism and rituality in North Florida were ...
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Considerations of ritual in archaeology are often focused on mortuary practices and the deposition of finely crafted objects. From this perspective, ceremonialism and rituality in North Florida were most pronounced during the construction and inhabitation of the McKeithen site and similar Weeden Island ceremonial centers (ca. AD 200-700), where elaborate mortuary traditions were enacted, and then severely attenuated within the Suwannee Valley culture during subsequent centuries. While neither aggregation at permanent settlements nor ostentatious mortuary ceremonialism are evident in late Pre-Columbian North Florida, new evidence from the Parnell site indicates that distinctive ritual practices were located off of burial mounds and that the number of participants who gathered periodically for feasts and other ritualized events may have surpassed the social scales of previous Weeden Island ceremonial centers. Evidence of an immense feast at Parnell gives a glimpse of practices associated with extensive competitive social networks among Suwannee Valley hunter-gatherers with otherwise somewhat limited archaeological visibility.Less
Considerations of ritual in archaeology are often focused on mortuary practices and the deposition of finely crafted objects. From this perspective, ceremonialism and rituality in North Florida were most pronounced during the construction and inhabitation of the McKeithen site and similar Weeden Island ceremonial centers (ca. AD 200-700), where elaborate mortuary traditions were enacted, and then severely attenuated within the Suwannee Valley culture during subsequent centuries. While neither aggregation at permanent settlements nor ostentatious mortuary ceremonialism are evident in late Pre-Columbian North Florida, new evidence from the Parnell site indicates that distinctive ritual practices were located off of burial mounds and that the number of participants who gathered periodically for feasts and other ritualized events may have surpassed the social scales of previous Weeden Island ceremonial centers. Evidence of an immense feast at Parnell gives a glimpse of practices associated with extensive competitive social networks among Suwannee Valley hunter-gatherers with otherwise somewhat limited archaeological visibility.
Martin Shubik and Eric Smith
- Published in print:
- 2016
- Published Online:
- May 2017
- ISBN:
- 9780262034630
- eISBN:
- 9780262337540
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262034630.003.0003
- Subject:
- Economics and Finance, Econometrics
In this chapter we introduce the concepts of symmetry, dimensions and scaling, which are fundamental to a principled construction and interpretation of minimal models in this book. We also introduce ...
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In this chapter we introduce the concepts of symmetry, dimensions and scaling, which are fundamental to a principled construction and interpretation of minimal models in this book. We also introduce the formal models for production and preferences, which we call the “pre-institutional society”. Society defines the context within which the institutions of the polity and the economy exist. The pre-institutional society is meant to represent the shared layers of constraint within which the different economic institutions must function. Economic life is potentially complex in all its dimensions. In comparison to reality, the space of tractable models is small. The subject of this chapter is to develop criteria for categorizing models and criteria by which to judge the validity of using them as sufficient representations of economic phenomena.Less
In this chapter we introduce the concepts of symmetry, dimensions and scaling, which are fundamental to a principled construction and interpretation of minimal models in this book. We also introduce the formal models for production and preferences, which we call the “pre-institutional society”. Society defines the context within which the institutions of the polity and the economy exist. The pre-institutional society is meant to represent the shared layers of constraint within which the different economic institutions must function. Economic life is potentially complex in all its dimensions. In comparison to reality, the space of tractable models is small. The subject of this chapter is to develop criteria for categorizing models and criteria by which to judge the validity of using them as sufficient representations of economic phenomena.
Onnig H. Dombalagian
- Published in print:
- 2015
- Published Online:
- September 2015
- ISBN:
- 9780262028622
- eISBN:
- 9780262324298
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262028622.003.0009
- Subject:
- Economics and Finance, Financial Economics
This chapter discusses regulatory approaches to overseeing the activities of intermediaries who impart higher orders of meaning onto information flows, such as exchanges, underwriters, auditors, ...
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This chapter discusses regulatory approaches to overseeing the activities of intermediaries who impart higher orders of meaning onto information flows, such as exchanges, underwriters, auditors, attorneys, securities analysts, and credit rating agencies. It first considers the role that informational intermediaries play in the aggregation and verification of information and in interpreting low-level information for use in higher-order processes (such as by transforming narrative and financial disclosures into prices, ratings, and investment recommendations). It then surveys the traditional utility and gatekeeping models of regulation that impose quasi-public or professional standards of care, independence, and public accountability. The chapter then considers the merits of incentive-based and performance-based approaches to intermediary regulation, such as subscriber-pays models, independent funding, and publication of performance statistics.Less
This chapter discusses regulatory approaches to overseeing the activities of intermediaries who impart higher orders of meaning onto information flows, such as exchanges, underwriters, auditors, attorneys, securities analysts, and credit rating agencies. It first considers the role that informational intermediaries play in the aggregation and verification of information and in interpreting low-level information for use in higher-order processes (such as by transforming narrative and financial disclosures into prices, ratings, and investment recommendations). It then surveys the traditional utility and gatekeeping models of regulation that impose quasi-public or professional standards of care, independence, and public accountability. The chapter then considers the merits of incentive-based and performance-based approaches to intermediary regulation, such as subscriber-pays models, independent funding, and publication of performance statistics.
Kartik B. Athreya
- Published in print:
- 2013
- Published Online:
- May 2014
- ISBN:
- 9780262019736
- eISBN:
- 9780262314404
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262019736.003.0005
- Subject:
- Economics and Finance, Macro- and Monetary Economics
Why do macroeconomists usually work with models that seem, to many, to be ridiculous simplifications of reality that stress mathematical coherence over economic substance? This chapter addresses ...
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Why do macroeconomists usually work with models that seem, to many, to be ridiculous simplifications of reality that stress mathematical coherence over economic substance? This chapter addresses important aspects of macroeconomic methodology. These ideas are infrequently discussed in existing work for nonprofessional economists. There are some reasons for using an overall approach to macroeconomics that seems to give easy ammunition to critics. The chapter covers each of these four “sins”: Aggregation, Rationality, Equilibrium, and Mathematics.Less
Why do macroeconomists usually work with models that seem, to many, to be ridiculous simplifications of reality that stress mathematical coherence over economic substance? This chapter addresses important aspects of macroeconomic methodology. These ideas are infrequently discussed in existing work for nonprofessional economists. There are some reasons for using an overall approach to macroeconomics that seems to give easy ammunition to critics. The chapter covers each of these four “sins”: Aggregation, Rationality, Equilibrium, and Mathematics.
David Jerison, Lionel Levine, and Scott Sheffield
Charles Fefferman, Alexandru D. Ionescu, D. H. Phong, and Stephen Wainger (eds)
- Published in print:
- 2014
- Published Online:
- October 2017
- ISBN:
- 9780691159416
- eISBN:
- 9781400848935
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691159416.003.0008
- Subject:
- Mathematics, Numerical Analysis
This chapter discusses the continuum limit of internal Diffusion-Limited Aggregation (DLA), a random lattice growth model governed by a deterministic fluid flow equation known as Hele-Shaw flow. The ...
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This chapter discusses the continuum limit of internal Diffusion-Limited Aggregation (DLA), a random lattice growth model governed by a deterministic fluid flow equation known as Hele-Shaw flow. The internal DLA model was introduced in 1986 by Meakin and Deutch to describe chemical processes such as electropolishing, etching, and corrosion. The chapter focuses primarily on fluctuations, and seeks to prove the analogous results for the lattice cylinder. In the case of the cylinder, the fluctuations are described in terms of the Gaussian Free Field exactly. The main tools used in the proofs are martingales. As the chapter shows, the martingale property in this context is the counterpart in probability theory of well-known conservation laws for Hele-Shaw flow.Less
This chapter discusses the continuum limit of internal Diffusion-Limited Aggregation (DLA), a random lattice growth model governed by a deterministic fluid flow equation known as Hele-Shaw flow. The internal DLA model was introduced in 1986 by Meakin and Deutch to describe chemical processes such as electropolishing, etching, and corrosion. The chapter focuses primarily on fluctuations, and seeks to prove the analogous results for the lattice cylinder. In the case of the cylinder, the fluctuations are described in terms of the Gaussian Free Field exactly. The main tools used in the proofs are martingales. As the chapter shows, the martingale property in this context is the counterpart in probability theory of well-known conservation laws for Hele-Shaw flow.
