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Written by Wei-Jing Zhu
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Saturday, 26 July 2008
Musing on how many aspects of society is subjected to quantitative analysis and predictions.We
are truly in an era of what “Foundation” series called
psycho-social -statistical history: simple rules, automata, can
sufficiently predict the population behavior using models of complex
systems. Enough recent books, such as the Tipping Point, Wisdom of Crowds, etc, shows that sufficient aspect of humanity can be
attributed to a few simple rules, the clustering and snowball effect
of a few trends, etc.
As a consequence, we see quantitative predictions that model every aspect of our lives. From hedgefund auto-trading, to airline prices, every aspect of our lives are opportunity for improvement by quantitative modeling. Businesses arise in all these areas, as seen in books such as Super Crunchers: Why Thinking-by-Numbers Is the New Way to Be Smart by Ian Ayres.
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