100 Economics Question of the Day: An Intermittent Blog: Gedankenexperiment I: What is the Economic Value of Cassandra?

Sunday, November 20, 2005

Gedankenexperiment I: What is the Economic Value of Cassandra?

It is well known that perfect correlation is ideal, even if it is perfect negative correlation. (If Jim Cramer really were wrong all of the time, it would be worth watching his current show--well, maybe not, but it could be justified then.)

But what of the legendary Cassandra, who always tells the truth (perfect correlation) but is never believed?

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