Soros: General Theory of Reflexivity
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Soros: General Theory of Reflexivity
There are shades of Soros’s reflexivity here. The market depends to some extent on the thinking of those participating in the market about the market. This is sometimes called a Keynesian beauty contest, after Keynes’s analogy of judging a beauty contest not on the basis of who you think is most beautiful, but on the basis of who you think others w
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