The wisdom and folly of crowds

[Iron]

Interesting article, which applies to betting exchanges IMHO:

http://online.wsj.com/article/SB1000142 ... 07102.html

Jeff

[Iron]

Another psychology article that's relevant to trading IMHO (on the Optimism Bias, which may be responsible for people going in-play!): http://www.time.com/time/health/article ... -1,00.html

Jeff

[Quinny]

oh dear! Tali pops up here trying to sell her book.

Some time ago I invited her to discuss my premise that Positive Thinking can be detrimental. Ignored, unsuprisingly.

Ignore this psychobabble and study instead someone like Jean Piaget if you are trying to understand betfair markets.

[Iron]

Perhaps you could elaborate - having just skimmed through the Wikipedia entry for Piaget, I can't find anything that appears relevant to market behaviour.

What's your view on the psychological dynamics which shape markets?

Jeff

Ignore this psychobabble and study instead someone like Jean Piaget if you are trying to understand betfair markets.

[noeyedeer]

No it may not have anything to do with the markets but if you look at Piaget's ideas regarding cognative development and then read Douglas's T in the Z book. Can you see the dichotomy of how from an early age we are constructed to think to what Douglas says. May be wrong but it's just an observation