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    Paradox & Proof Entry #0165

    Why a market can be efficient and wrong at once

    Efficiency means a price has absorbed the available information. It says nothing about whether that information was complete, and the two are often confused.

    Master
    The hidden part #0165

    Efficiency describes how fast information reaches a price. It makes no claim about how good that information was.

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    Negotiation Frames Entry #0344

    Why an expiring offer is a test of your alternatives

    A deadline attached to an offer rarely reflects an external constraint. It measures whether you have somewhere else to go, and it does so cheaply.

    Adept
    The hidden part #0344

    A deadline is cheap to impose and expensive to justify. The reaction it produces is what it was for.

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