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Date: Mon, 15 Oct 2007 17:13:35 -0400 (EDT)
From: Daniel Reeves  
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To: Eva Revesz	
cc: reeves-hayos Æ umich.edu, reeves-kalkman Æ umich.edu,
	improvetheworld Æ umich.edu
Subject: RE: some very yootley research wins nobel prize
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[I'm adding ITW to this.  (Random statistic: ITW gets a message every 1.3 
days on average. If you're behind, just read one per day and you'll 
eventually catch up!)]

Thanks Trixie. Has anyone insinuated that ("yootles is a mechanism for 
Danny to get what he wants")?  Our mechanism design goals have explicitly 
been social utility maximization ("efficiency" or "welfare") and fairness. 
Let's always compare every yootles decision to what would have happened 
without yootles.  If a worse decision is ever made, please scream bloody 
murder!

I used to worry a lot that yootles would be unfair for poor people [1].
I've done a 180 on that.  I often yootle with actual money with people 
(when they don't use yootles often enough for yootles to be meaningful) 
and this is what has made me all hot on theoretical capitalism lately:
   When I'm the rich one, it's great, I get my way for peanuts.
   But when I'm the poor one (turns out I know lots of millionaires) it's 
also great: I get paid big bucks for a trivial sacrifice.

See, I'm helping people voluntarily shrink the income gap. :)

Another useful blurb on today's prize:
http://www-personal.si.umich.edu/~jmm/blog/Nobel-in-mech-design-2007-N...

Danny

[1] To the extent that you can get yootles with money, which is very hard 
to prevent.  Many things that don't seem to involve money really do -- 
like if money is no object I'll mind less losing a yootles auction about 
travel dates.  So with lots of money one may find ways to indirectly get 
rich in yootles.  It's up to social convention how much to discourage 
that.


--- \/	 FROM Eva Revesz AT 07.10.15 13:13 (Today)   \/ ---

> Yes, Danny, fascinating! And it is indeed yootley. I especially had to 
> grin at the description saying, paraphrased, that it gets planners, 
> managers, parents to acts in ways that the planner, manager and parent 
> wants them to. (: 
> (This is in response to those out there who have insinuated that yootles 
> is a mechanism for Danny to get what he wants! :) 
>
> Love,
> Trixie


Daniel Reeves to reeves-hayos Æ umich.edu:

>
http://freakonomics.blogs.nytimes.com/2007/10/15/chicago-economist-rog...
n-one-of-three-to-win-nobel/
>
> Straw poll: who knows what "mechanism design" means? (reply to just 
> me)

-- 
http://ai.eecs.umich.edu/people/dreeves  - -  search://"Daniel Reeves"

Optimist: The glass is half full.
Pessimist: The glass is half empty.
Engineer: The glass is too big.