Mercers’ School Memorial Professor of Commerce
Michael Mainelli
“New Learning”
It’s A Mad, Bad, Wonderful World
A Celebration Of Commercial Diversity
Barnard’s Inn Hall
Holborn
London EC1N 2HH
© Gresham College
2005
www.gresham.ac.uk
Tel: +44 (0)20 7831 0575
Fax: +44 (0)20 7831 5208
Email : [email protected]
Outline
Sahel’s Silent Trade
Information theory
Time & space
CHFiction
Virtual economics
Fei-ville
Commercial diversity
© Gresham College
2005
www.gresham.ac.uk
“Get a detailed grip on the big picture.”
Chao Kli Ning
Sahel’s Silent Trade
© Gresham College
2005
www.gresham.ac.uk
[Source: http://www-personal.umich.edu/~cgober/africatrademap.jpg]
Shannon (on the right)
© Gresham College
2005
www.gresham.ac.uk
[Source: http://en.wikipedia.org/wiki/Image:Claude_Elwood_Shannon_(1916-2001).jpg]
The Ultimate Machine
© Gresham College
2005
www.gresham.ac.uk
[Source: http://www.kugelbahn.ch/sesam_e.htm]
Shannon’s Diagram
A General Communication System
Happy Birthday!
© Gresham College
2005
www.gresham.ac.uk
Happy $%^&*£+#!
[Source: SHANNON, C E, "A
Mathematical Theory of
Communication", The Bell System
Technical Journal, 1948]
Many Levels
© Gresham College
2005
www.gresham.ac.uk
[Source: http://www.shkaminski.com/Classes/Handouts/Communication%20Models.htm]
Information = Surprise!
I
© Gresham College
2005
www.gresham.ac.uk
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X
Y
Z
N
A
B
C
D
F
G
H
J
K
L
M
N
O
P
R
S
T
V
F
A
B
C
D
E
F
G
H
I
J
K
L
N
O
P
R
S
T
U
V
O
A
E
I
L
O
R
U
R
D
R
M
D
M
S
A
A
E
T
T
I
I
O
O
O
V
N
N
Schramm’s Model
Message
Encoder
Decoder
Feedback
Interpreter A
Interpreter B
Feedback
Decoder
Encoder
Message
© Gresham College
2005
www.gresham.ac.uk
[Source, Schramm, 1954]
Time Or Space?
© Gresham College
2005
www.gresham.ac.uk
Time & Space
© Gresham College
2005
www.gresham.ac.uk
[Source: http://rg.ancients.info/lion/article.html]
Mermnadae Model
Message
Encoder
Decoder
Feedback
Interpreter A
Interpreter B
Feedback
Decoder
Encoder
Message
© Gresham College
2005
www.gresham.ac.uk
An Aldern-ate Model
Message
Encoder
Decoder
Feedback
Interpreter A
Interpreter B
Feedback
Decoder
Encoder
Message
© Gresham College
2005
www.gresham.ac.uk
CHFictions
© Gresham College
2005
www.gresham.ac.uk
[Source: http://www.swissmint.ch/]
Waning Lira-cal
Born: 1808
Ad-mini-stirring…
RIP: 1959
© Gresham College
2005
www.gresham.ac.uk
[Source: http://digilander.libero.it/maggioref/Storia%20liraEng.html]
Ne Win and 90 Kyat
© Gresham College
2005
www.gresham.ac.uk
Haggling
© Gresham College
2005
www.gresham.ac.uk
Seeing The Milk For The Pulp
© Gresham College
2005
www.gresham.ac.uk
[Source: http://greenbottle.com/]
Virtually Economic
© Gresham College
2005
www.gresham.ac.uk
[http://electronics.howstuffworks.com/avatar-machine.htm]
Auction Classes
Multiple
High Value
Discrete Items
e.g., Artworks
Linked Items
e.g., FCC
telecommunication
licenses
Rounds
Single
© Gresham College
2005
www.gresham.ac.uk
High Traffic Items
e.g., Collectibles
Sequentia
l
Quick, Single
Items
e.g., Books
Simultaneous
Order
Home Sweet Stone
© Gresham College
2005
www.gresham.ac.uk
[Source: http://www.pacificworlds.com/palau/native/native5.cfm]
Tough As A Stone
[Source:
http://www.explorers.co.uk/new_i
mages/maps/micronesia_map.gif]
© Gresham College
2005
www.gresham.ac.uk
[Source: http://www.pacificworlds.com/palau/native/native5.cfm]
Unmissfakeable
© Gresham College
2005
www.gresham.ac.uk
[Source: http://en.wikipedia.org/wiki/Image:Yap_home.jpg]
Taxing Work
© Gresham College
2005
www.gresham.ac.uk
[Source: http://www.pacificworlds.com/palau/native/native5.cfm]
Modern Finance
© Gresham College
2005
www.gresham.ac.uk
Commercial Diversity
Swiss buses
Avatar auctions
Milk bottles
Haggling
Message
90 Kyat
Italian taxes
Encoder
Decoder
Feedback
Interpreter A
Interpreter B
Feedback
Decoder
Encoder
Gold
Message
Silent Trade
© Gresham College
2005
www.gresham.ac.uk
Fei stones
BT
Russian purchasing
Alderney conveyancing
Discussion
1.
2.
© Gresham College
2005
www.gresham.ac.uk
Your
commercial
stories.
Are there “laws
of commerce”?
It’s A Mad, Bad, Wonderful World
A Celebration Of Commercial Diversity
Thank you!
© Gresham College
2005
www.gresham.ac.uk
“Get a big picture grip on the details.”
Chao Kli Ning