▲ | walterbell 17 hours ago | ||||||||||||||||||||||||||||||||||||||||
Need a City quant PhD to invent a mathematical analog of Black-Scholes [1] for pricing and trading the irreplaceable value of culturally significant physical spaces to future generations. Then City-like [2] institutions can compete financially for ongoing preservation rights, rather than a one-time chop shop auction. [1] https://en.wikipedia.org/wiki/Black%E2%80%93Scholes_model | |||||||||||||||||||||||||||||||||||||||||
▲ | sdwr 16 hours ago | parent | next [-] | ||||||||||||||||||||||||||||||||||||||||
"Preserving the irreplaceable value of ..." works great as a personal motivation or a mission statement, but terribly as an explicit rule. It's the same problem as carbon offsets - if there's a formula for converting intangible values into cold hard cash, people will exploit the definition of the intangibles to make money. | |||||||||||||||||||||||||||||||||||||||||
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▲ | cactusfrog 10 hours ago | parent | prev [-] | ||||||||||||||||||||||||||||||||||||||||
This is a gamblers ruin problem action. |