Comments for EcoAsset Markets' Weblog

Comment on Some Observations on Measurement by livingcapitalmetrics

livingcapitalmetrics — Thu, 04 Jun 2009 00:48:47 +0000

I love the first sentence! “The evolution of ecosystem service markets is dependent upon the ability to accurately measure.” You could have taken those words right out of my mouth. I wish you’d give us some more of “this silly talk.”

Measurement is of vital importance. Great improvements have been made in our capacity to measure natural (and social and human) capital, but almost no one is aware of them. We can now calibrate ability tests, surveys, and assessments so that they measure in equal interval units. This is no bull: measures from different instruments plot linearly, as do calibrations from different samples. Anyone can check out the math, the theory, and the extensive research literature themselves (see my new article in Measurement (Elsevier) for references: doi:10.1016/j.measurement.2009.03.014 .)

Even though instruments with linear measurement properties are being calibrated, there appears to be no awareness of the importance of linking all the instruments measuring the same things into common metrics, universally uniform quantitative languages akin to the metric system. Good measurement is fundamental to reducing transaction costs and improved market efficiency. Conversely, bad measurement and its ordinal, nonlinear, locally dependent “metrics” is a huge source of market frictions.

For more information, see my blog (http://livingcapitalmetrics.wordpress.com) or my web site (http://www.livingcapitalmetrics.com).

And really, say more of what you think about measurement.

Comment on Ponzi Schemes Compared by Alan

Alan — Sat, 17 Jan 2009 11:45:07 +0000

Social security is indeed a Ponzi scheme. When you need future generations to pay for the benefits of previous generations, then it is a Ponzi scheme. Just replace the word “generations ” with “investors” and all will be clear.

Comment on And you thought differential equations were difficult… by A.B. Dada

A.B. Dada — Fri, 16 Jan 2009 20:55:21 +0000

Thanks for the link. I’m working on cleaning up the letter some more — so far, no one else has transcribed the PDF file into text but us, and some of it got jumbled near the bottom.

Comment on Carbon Market Financial Projections by Nanoshel

Nanoshel — Thu, 15 Jan 2009 19:09:19 +0000

Yes, Nanotech has not been affected by recession.

Comment on Why oil won’t fall below $100 a barrel by Macie Roberts

Macie Roberts — Thu, 01 Jan 2009 11:06:04 +0000

Your text reminds me of what Benjamin Franklin said – “Marriage is the most natural state of man, and…the state in which you will find solid happiness.”…

Comment on Collapse…and innovation by Bookmarks about Weblog

Bookmarks about Weblog — Sat, 06 Dec 2008 16:30:12 +0000

[...] – bookmarked by 6 members originally found by ebouchut on 2008-10-29 Collapse…and innovation http://ecoassetmarkets.wordpress.com/2008/07/11/collapseand-innovation/ – bookmarked by 2 members [...]

Comment on Genetically Modified Foods by Vincenzo Kelley

Vincenzo Kelley — Fri, 05 Dec 2008 14:37:12 +0000

My colleague referred me to your blog post and I wrote to her I was inspired by it!

Comment on Possible Cabinet Picks by oo12oo

oo12oo — Wed, 19 Nov 2008 16:18:44 +0000

Good post and interesting choices to boot.

http://ontheseventhday.wordpress.com/

Guess I was dead wrong on my choice for Attorney General…

Comment on Agricultural Ecosystems: Facts and Trends by Why Trade Forex

Why Trade Forex — Wed, 19 Nov 2008 03:18:55 +0000

I loved reading your blog post

Comment on Food Fight by Chris Taylor

Chris Taylor — Tue, 04 Nov 2008 17:32:33 +0000

You are right, Seamus. Dismantling the small farm infrastructure has eliminated the possibility of buying local produce outside of farmer’s markets. That is just one of the prenicious side-effects of goevernment food policy over the last 50 years. Hopefully we can start to reverse that going forward.