Difference between revisions of "A Science Less Dismal: Welcome to the Economic Manhattan Project (PIRSA Content)"

A Science Less Dismal: Welcome to the Economic Manhattan Project (PIRSA Content) (view source)

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 {{InfoboxAppearance
-|title=Sheldon Glashow Owes me a Dollar (and 17 years of interest): What happens in the marketplace of ideas when the endless frontier meets the efficient frontier?
+|title=A Science Less Dismal: Welcome to the Economic Manhattan Project
 |image=
 |host=[[Eric Weinstein]]
 |guests=
-|length=01:02:01
+|length=00:45:27
-|releasedate=11 September 2008
+|releasedate=5 January 2009
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 |link1title=PIRSA
-|link1=[http://pirsa.org/08090036/ Watch]
+|link1=[http://pirsa.org/09050047 Watch]
 |link2title=Portal Blog
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-|prev=Gauge Theory and Inflation: Enlarging the Wu-Yang Dictionary (YouTube Content)
+|prev=Panel Discussion: Nouriel Roubini, Nassim Taleb, Richard Freeman, Eric Weinstein (YouTube Content)
-|next=Panel Discussion: Nouriel Roubini, Nassim Taleb, Richard Freeman, Eric Weinstein (YouTube Content)
+|next=How Asia Could Foster Genius (YouTube Content)
 }}
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-'''Sheldon Glashow Owes me a Dollar (and 17 years of interest): What happens in the marketplace of ideas when the endless frontier meets the efficient frontier?''' was a presentation by [[Eric Weinstein]] at the Perimeter Institute for Theoretical Physics for the Science in the 21st Century conference.
+'''A Science Less Dismal: Welcome to the Economic Manhattan Project''' was a presentation by [[Eric Weinstein]] at the Perimeter Institute for Theoretical Physics for the Perimeter Institute conference on economics.
 == Description ==
-Title: Sheldon Glashow Owes me a Dollar (and 17 years of interest): What happens in the marketplace of ideas when the endless frontier meets the efficient frontier?
+Title: A Science Less Dismal: Welcome to the Economic Manhattan Project
 Speaker: Eric Weinstein
-Abstract: The emergence of novel funding structures in science may be seen as paralleling developments in financial engineering over the past 25 years. In this comparison, entities like FQXi, Perimeter Institute, CMI, Howard Hughes, the Gates Foundation and other funding agencies are emerging as \'intellectual hedge funds\' in response to perceived inefficiencies of more traditional agents, which play the role of mutual funds. Unfortunately, this experiment may prove less successful in the absence of instruments specifically tailored to hedge the uncertainties inherent in research which is both risky and potentially disruptive. Markets are said to be incomplete or inefficiently structured when they fail in the allocation of scarce resources to optimally digest the views held by market participants. Time permitting, this talk will explore possible opportunities stemming from inefficiencies in the scientific marketplace of ideas: *The risks of Injunctive Peer Review vs. Non-Invasive Short Selling *Synthetic Tenure vs. Traditional Tenure *Correlation Risks: Critical Mass vs. Diversification *Managing Bleed from \'Long Volatility\' Investing *Self-Policing Fiefdoms: Balancing the benefits of expertise and specialization against counterparty risk, \'moral hazard\', \'adverse selection\' and \'rent-seeking\' behavior. *Risks from media mediation of scientific disputes and the economic roots of character attack. *Costs and benefits from Immigration and the free flow of neurons across borders. *Traditional One-to-One Advising vs. Eusocial Training *Markets as systems of selective pressures: The riddle of successful adaptive valley crossers in recent scientific history.
+Abstract: An unexpected economic crisis provides an excellent opportunity to better understand the state of Economic theory as a science. While there appears to have been a broad systemic failure within the community of professional economists to predict the current collapse, it must be noted that there have been scattered successes which appear striking and demand our attention. The goal of this conference is to bring together economists, biologists, mathematicians, physicists, programmers, and financial professionals to explore the opportunities for bringing economic theory into closer contact with the more traditional sciences as the basis for ongoing work, partnership, and collaboration.
-Date: 11/09/2008 - 11:00 am
+Date: 01/05/2009 - 9:15 am
 Location: Perimeter Institute for Theoretical Physics