>
>----------------------------------------------------------------
>> Guru George asks: What the fuck is "intrinsic value"? How is it to be
>estimated?
>
>
>A system that relies on captive consumers who can't notice or question the
>nature of the non-local variables hidden in 'price' is similar to a classic
>backward propagation Artificial Neural Network. For example, in accepting
>that classic AI is not going to provide a direct interface to the mind, the
>modern AI trend looks like a constructionist model that uses graded (i.e.
>intrinsic) values for feed-forward unsupervised learning. The simplest form
>of intrinsic value is a unit of frequency. The result of using analog or
>hidden variables in systems is that they cannot be examined, backed-up and
>eventually can't be trusted.
[snip]
>
Jim, either I'm completely thick or you're off your trolley. :-)
You are explaining obscurum per obscurius. What are the 'non-local
variables hidden in price', and why should anyone bother with them; and
what have they got to do with 'intrinsic value'? Never mind the AI,
stick to economics for the moment, so that I can get some kind of grasp
of what you are talking about.
Also, in what way are consumers 'captive', if they have a choice?
Cheers,>
Guru George