I read the following quote this week - "
if you set a crowd of self-interested , independent people to work in a decentralized way on the same problem, instead of trying to direct their efforts from the top down, their collective solution is likely to be better than any other solution you could come up with". Figuring out how to aggregate this information while still remaining decentralized - usually leads to the right decision -assuming of course that is what you are seeking.
When my wife and I were dating - I would always meet her under the big clock in Grand Central Terminal in NYC. I'd come down the escalators in the Met Life Building and there she would be. If you've ever been there you just know that it is where everyone meets in Midtown -and for as long as I lived there - I couldn't tell you why. There were the practical reasons of subways and commuter rails -but GCT is a big terminal with waiting rooms, a food court, and literally thousands of places to meet -so why under the big clock ? In 1958
Thomas Schelling conducted an experiment with some students in New Haven, Connecticut. "You have to meet someone in New York City. You don't know where you are supposed to meet and there is no way to communicate with the other person ahead of time.
Where do you go and what time do you meet ? " NY is a big place and the idea that you might just know where to meet someone and at what time seems almost laughable. The results of the thought experiment were striking. Nearly all the students said they would meet at the big clock in GCT around noon. Just to take it a bit further -- if you take 2 random students with the goal of having lunch in the big city without knowing where to meet or at what time -- odds are they will meet under the big clock in Grand Central Terminal at noon. The clock is a kind of focal point or what today is called Schelling's points. There types of focal points are fascinating because they suggest that people can approach mutually beneficial results while decentralized and even more astonishingly -- not even talking. I always liked that old clock .
The weather was perfect this weekend and I took every opportunity to be outdoors that I could afford. I needed a recharge and it felt great to leave it all behind for a few hours at least. On Friday we took Scrumpy for a short hike in Forest Park and on Saturday I hit the Springwater Corridor with Todd. We stopped at the waterfront for a few local beers and to soak in some sun as we watched the dragon boaters and kayakers play in the water. I even had time to see GrindHouse . I still am not sure quite what to make of it --it was what one might expect from Tarrantino and Rodriquez. I caught up some work on Sunday and rested mostly for today. Tom and I decided to venture out to the Gorge with our bikes and covered a nice route on the Columbia River Highway. We left early to beat traffic and it was cold as we started our ascent. My muscles were still sore from Saturday and the wind off the river didn't help. About 25 minutes into the ride my body temperature rose and it didn't hurt as much :). We hit a few waterfalls and explored some of the back roads and trails along the route. A productive weekend in my book and I hope it is a precursor to the season ahead. Happy Memorial Day everyone !
