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dispatchesfromtheclasswar · 5 months

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"Markets are not perfect, but they are the most efficient and fair mechanism for resource allocation."

#class war #class warfare #classism #capitalism #efficiency #resource allocation

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askagamedev · 11 months

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Does sunk cost ever affect game dev? IE we put so many zots into a feature that isn't working, we may as well put in more to finish it?

Sunk cost affects us like it affects most humans. We're loss-averse creatures and our brains abhor feeling like we've wasted resources. The problem then becomes throwing "good" resources after bad and trying to "get over the hump" when it is really just digging our own graves even deeper.

One famous example is Mass Effect Andromeda. ME:A had a major problem with sunk cost - the game was originally intended to feature a procedural planet generator that could create a near-infinite number of planets to explore. The dev team spent a tremendous amount of resources building out such a system and ended up scrapping it because it was just not good enough to generate the kind of quality content they knew their players would expect.

The sunk cost problem is often a real issue because it is extraordinarily difficult to solve and extremely easy to feel like you're almost finished with them. The biggest problem with sunk cost is that the solution to the problem feels tantalizingly close if you only fix these issues, but this is why these problems are cursed. It's usually a conflict of core gameplay values that cause these, and pushing to solve the incongruity usually just creates new issues that must be solved.

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#sunk cost #the business of video games #resource allocation #working in the game industry

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atozofsoftwareengineering · 6 months

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Budget Control in Project Management: Strategies for Success

Unlock the secrets to successful project budget control and avoid overruns with these 10 essential strategies. #ProjectManagement #BudgetControl #CostEstimation #PMStrategies

Effective project management is a multi-faceted skill that requires a delicate balance of various elements, with budget control being a crucial aspect. Project budget overruns can be detrimental to an organization’s financial health and the successful completion of a project. To mitigate the risks associated with budget overruns, project managers need to employ a variety of strategies and…

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omegaphilosophia · 7 months

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Understanding Partially Public Goods: Excludability and Rivalry

There are several things that could potentially be considered public goods but are not due to various reasons. These goods may be excludable (meaning access can be restricted) or rivalrous (meaning consumption by one person reduces availability to others) to some extent. Here are some examples:

Broadcast Television: While television broadcasts are non-excludable (many people can watch the same program simultaneously), they are not entirely non-rivalrous. Limited advertising space and time slots mean that the more viewers a program attracts, the more revenue it generates. Therefore, broadcast television is not a pure public good.

WiFi in Public Spaces: Publicly available WiFi in parks or airports is often considered a public good because anyone can access it freely. However, it can be limited by factors such as bandwidth, speed, and user restrictions, making it partially excludable and rivalrous to some extent.

Clean Air: Clean air is typically regarded as a classic public good because it is non-excludable and non-rivalrous. However, localized air pollution can affect air quality in specific areas, making it somewhat rivalrous on a regional scale.

Public Transportation: Public transportation systems aim to provide accessible services to everyone. Still, they are not entirely non-excludable, as users typically need to pay fares, and they can become congested during peak hours, introducing rivalry for seating and space.

Online Information: Information on the internet is often considered a public good because it can be freely accessed by anyone. However, some content is protected by paywalls, and high-quality, specialized information may require subscriptions or fees, making it partially excludable.

National Parks: National parks are intended to provide natural beauty and recreational opportunities to all. However, access to some areas may require entrance fees or permits, rendering them partially excludable.

Social Media Platforms: Social media platforms like Facebook and Twitter offer free access to users worldwide. However, they are not pure public goods because users' data and content contribute to their revenue through advertising and data monetization.

In these examples, the classification of goods as public or non-public depends on factors like the degree of excludability and rivalry. While they exhibit some characteristics of public goods, they are not entirely non-excludable and non-rivalrous, which is the hallmark of pure public goods like clean air or national defense.

#philosophy #epistemology #knowledge #learning #education #chatgpt #ethics #politics #Public Goods #Excludability #Rivalry #Economic Concepts #Market Efficiency #Resource Allocation #Accessible Services #Common Resources #Public Policy #Goods Classification #economics

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moreconomics · 1 year

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"The Austrian School of Economics: A Solution to the World's Problems?"

The Austrian School of economics is a heterodox economic theory that emphasizes the role of individual subjective value, entrepreneurship, and the importance of markets in the allocation of resources. It is distinguished from other economic schools by its emphasis on the dynamic and entrepreneurial nature of economic activity, and its view that the economy is constantly evolving and adapting to changing circumstances. The Austrian School is also characterized by its commitment to methodological individualism, which is the idea that social phenomena can only be understood by examining the actions and motivations of individual actors. This emphasis on the subjective experiences and preferences of individual actors is also reflected in the Austrian School's commitment to the subjective theory of value, which holds that the value of a good or service is subjective and determined by the individual valuations of those who exchange it.

One key aspect of the Austrian School is the concept of the business cycle, which refers to the regular fluctuations in economic activity that occur over time. According to the Austrian theory of the business cycle, these fluctuations are caused by the expansion and contraction of credit by banks. When banks expand credit, they make it easier for individuals and businesses to borrow money, which can lead to an increase in investment and economic activity. However, this expansion of credit can also lead to an unsustainable increase in the demand for goods and services, which can result in a misallocation of resources and the emergence of malinvestments. When the credit expansion eventually comes to an end, the demand for goods and services can suddenly drop, leading to a contraction in economic activity and a corresponding drop in the supply of money and credit. This process of credit expansion and contraction can lead to the regular fluctuations in economic activity that are characteristic of the business cycle.

One important concept in the Austrian School of economics is that of economic calculation, which refers to the process by which individuals and businesses make decisions about how to allocate their resources in the face of scarcity. According to the Austrian School, market processes are the most efficient means of economic calculation because they allow individuals to make decisions based on their own subjective preferences and valuations, and provide information about the relative scarcity of different goods and services through the system of prices. When prices are allowed to adjust freely in response to changes in supply and demand, they provide a clear and accurate signal about the relative scarcity of different goods and services. This allows individuals to make informed decisions about how to allocate their resources and optimize their utility.

For example, if one good is experiencing a shortage and its price is higher than another good that is not experiencing a shortage, an individual may choose to purchase the good that is not experiencing a shortage even if they prefer the good that is in short supply. This is because the higher price of the good in short supply reflects its relative scarcity and the individual may be able to obtain more utility by purchasing a greater quantity of the good that is not experiencing a shortage. This process of resource allocation through market prices promotes the most efficient use of resources and contributes to economic growth and prosperity.

The Austrian School argues that subsidies and other forms of market intervention can distort prices and undermine the ability of the market to perform this crucial role in resource allocation. By distorting prices, subsidies can create artificial shortages or surpluses of goods and services, leading to misallocations of resources and inefficiencies in the economy. This can ultimately undermine the ability of the market to promote economic growth and prosperity.

Money is just another good among many in an economy, and like any other good, it is subject to the laws of supply and demand. When the supply of money is increased or decreased, this can have a significant impact on the relative prices of other goods and services in the economy, as well as on the level of economic activity. The Austrian School of economics argues that the state's control of money and its regulation of private alternatives can distort market processes and undermine economic prosperity. By monopolizing the supply of money or over-regulating private alternatives, the state can manipulate the money supply and interfere with the proper functioning of the market. This can lead to misallocations of resources, economic inefficiencies, and ultimately, a lower standard of living for individuals and businesses.

One way to promote economic stability and prosperity is through the denationalization of money, a concept posited by Friedrich Hayek and embraced by many Austrian economists. This idea refers to the proposal that money should be privately produced rather than issued by a central government or bank. The Austrian School argues that private money would be more stable and less subject to manipulation by governments and central banks, and would therefore be more effective at promoting economic stability and prosperity. One way in which private money could be implemented is through the concept of free banking, in which banks are free to issue their own private currencies while also subject to no special regulations beyond those applicable to most enterprises.

Free banking is a monetary system that has the potential to promote greater competition among banks, leading to better quality currencies and a more stable financial system. In a free banking system, banks have an incentive to issue currencies that are widely accepted and maintain their value, as this would increase the demand for their currency and their profits. To achieve this, banks must demonstrate the reliability and trustworthiness of their currency to the public. One way that banks can do this is through a practice called "note-dueling."

Note-dueling is a practice that occurs in a free banking system, in which banks attempt to gather up as much of their rivals' outstanding notes as possible in order to demonstrate the strength of their own currency. This process can be thought of as a form of market discipline, as it incentivizes banks to maintain reasonable reserve ratios in order to be able to honor their promise to redeem their notes for gold or other specie when requested. Competition among note issuers led each bank to try to demonstrate how solid and reliable it was relative to other banks, and this competition effectively regulated the specie reserves held in the banking system. If a bank has a large specie reserve relative to its outstanding note issue, it is better able to honor this promise and maintain the confidence of the public in its currency. On the other hand, if a bank has a small specie reserve relative to its outstanding note issue, it may be at risk of facing a liquidity problem if there is a high demand for note redemption. In this case, the bank may not have enough gold on hand to meet the demand, which could lead to a failure in the bank that did not have enough specie reserve relative to its outstanding note issue.

The Cantillon effect is a phenomenon in economics that refers to the way in which changes in the money supply can have unequal impacts on different parts of the economy. Named after the 18th-century economist Richard Cantillon, the effect suggests that the first recipients of new money tend to benefit the most, while those who receive the new money later on tend to be disadvantaged. This is because the first recipients of new money are able to use it to purchase goods and services before prices have had a chance to adjust to the increased demand, which can lead to higher prices for these goods and services. This can lead to a transfer of wealth from those who receive the new money later on to those who receive it earlier, contributing to economic inequality.

Many Austrian economists advocate for the denationalization of money and the implementation of free banking as a way to mitigate the potential for the Cantillon effect and promote economic stability and prosperity. In a system of free banking, banks are free to issue their own private currencies and compete with one another for customers. This competition can help to ensure that the supply of money and credit is more responsive to market forces and less subject to manipulation by governments and central banks. One aspect of this competition is the process of "note dueling," in which banks attempt to gather up as much of the outstanding note issue of their rivals as possible in order to demonstrate their own reliability and stability. By allowing the market to play a greater role in the supply and demand of money, the Austrian School argues that free banking can help to promote economic stability and reduce the potential for the Cantillon effect to contribute to economic inequality.

In conclusion, the Austrian School of economics offers a unique perspective on economic theory and policy that emphasizes the role of individual subjective value, entrepreneurship, and the importance of markets in the allocation of resources. The theory of the business cycle explains how the expansion and contraction of credit by banks can lead to fluctuations in economic activity, and the concept of denationalization of money proposes that money should be privately produced rather than controlled by the state. The idea of free banking, in which banks are free to issue their own private currencies, is one way in which this concept could be implemented. The Austrian School argues that these ideas have the potential to promote economic stability and prosperity by allowing the supply of money and credit to be more responsive to market forces and less subject to manipulation by governments and central banks. By respecting the role of the individual and the market in the allocation of resources, the Austrian School offers a unique and valuable perspective on economic policy.

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ivygorgon · 2 days

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Please cut wasteful Pentagon spending now!

AN OPEN LETTER to THE PRESIDENT & U.S. CONGRESS

887 so far! Help us get to 1,000 signers!

I am a constituent who believes the failure to control wasteful Pentagon spending makes it harder to meet our country’s needs. The U.S. spends more on the military than any other country in the world, yet we repeatedly fail to spend the required amount of funds on food, housing, health care, and education that our communities need.

Recently, the DoD failed its audit for the sixth time in a row when it failed to account for $1.9 trillion―half its $3.8 trillion budget.

The Department of Defense is the only federal agency that has never passed a full audit and they didn’t even complete audits until 2018.

As your constituent, I am asking you to cut wasteful Defense spending in FY 2025 government funding bills.

Federal dollars that go to wasteful Department of Defense contracts are funds that do not go to meet human needs. One-third to one-half of the Pentagon budget goes to corporate military contractors that drastically price gouge the DoD by as much as 40%.

Trillions of dollars spent―and unaccounted for―undermine our security by preventing us from investing in the shared prosperity that comes from more housing, climate and public health protections, ending hunger, and more education.

Please cut wasteful Pentagon spending and invest that money in vulnerable communities.

▶ Created on April 22 by Jess Craven · 886 signers in the past 7 days

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imrovementcompany · 2 months

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Mastering the Trio: Project, Program & Portfolio Management

Unraveling the Threads of Strategic Success In the intricate tapestry of business management, three threads run consistently: project, program, and portfolio management. Each strand, distinct yet interwoven, forms the fabric of successful organizational strategy. Here’s how to differentiate and harness the power of each one to weave your own narrative of success. Project Management: The…

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#business acumen #Change Management #Leadership Skills #Portfolio management #Program management #project management #resource allocation #risk management #stakeholder communication #strategic planning

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artisticdivasworld · 5 months

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What are 5 common causes of conflict in health care?

Conflicts in healthcare settings can arise due to a variety of reasons. Here are five common causes: Communication Breakdowns: Effective communication is crucial in healthcare. Misunderstandings or lack of communication among healthcare professionals, or between healthcare providers and patients, can lead to conflicts. This includes poor verbal communication, inadequate information sharing, or…

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moolamore · 6 months

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Unlocking Financial Insights: How Moolamore Aids in Resource Allocation

Smart capital, time, and labor allocation promotes maximum productivity, minimizes waste, and fosters long-term growth in your SME. There is a revolutionary tool on which you can always rely! Using Moolamore gives you the ability to make sound, data-driven decisions, ensuring you have enough funds for day-to-day operations, emergencies, and investment opportunities while mitigating cash flow risks. Let's get started on this blog!

Indeed! Embracing Moolamore gives you an advantage! It is the strategic solution you require to wisely allocate resources, avoid financial pitfalls, confidently navigate to success, and thrive in any economic climate. best cash flow forecasting software

#financial insights #resource allocation #financial management software #financial planning #budgeting tool #financial analytics #financial reporting #data-driven decision making #financial optimization #financial intelligence #financial forecasting

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fosteringinsc · 7 months

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Decriminalizing Foster Care: The Vital Importance of Child Welfare Reform

Foster care is like a big support system for kids who have had tough times at home, maybe because their parents couldn’t take care of them properly or they faced some problems in their families. But, sometimes, instead of helping the parents do better, the system can make them feel like they did something very wrong, almost like they’re criminals. That’s not good for the kids. In this blog, we’ll…

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#AAPediatrics on foster care #Child welfare reform #Child welfare system #Children in foster care #Decriminalizing foster care #Family preservation #Foster care reform #Foster care system #Parental support #Resource allocation #Stigma in foster care #support for foster parents

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cimcondigital · 7 months

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Transforming Predictive Maintenance with CIMCON Digital’s IoT Edge Platform: Unlocking Proactive Asset Management

Introduction

In today’s fast-paced and technologically advanced world, the need for efficient and proactive asset management is paramount for businesses to stay competitive. CIMCON Digital’s IoT Edge Platform emerges as a game-changer in the realm of Predictive Maintenance, empowering organizations to detect anomalies in advance using ML algorithms. This capability not only enables customers to plan schedules well in advance and avoid costly downtime but also provides real-time visibility into the remaining useful life of assets. In this article, we delve into how CIMCON Digital’s IoT Edge Platform revolutionizes Predictive Maintenance with practical examples of proactive asset management.

1. The Challenge of Reactive Maintenance

Traditionally, companies have been plagued by reactive maintenance practices, where assets are repaired or replaced only after failures occur. This reactive approach leads to unexpected downtime, reduced productivity, and increased maintenance costs. Predicting asset failures and planning maintenance schedules in advance is critical to ensure smooth operations, optimize resource allocation, and minimize overall downtime.

2. Empowering Proactive Maintenance with ML Algorithms

CIMCON Digital’s IoT Edge Platform is equipped with advanced Machine Learning algorithms that analyze real-time data from connected assets and machines. By continuously monitoring sensor data and historical performance trends, the platform can accurately detect anomalies and deviations from normal operating patterns. This proactive approach allows businesses to predict potential asset failures well in advance, providing ample time to schedule maintenance activities before any critical failures occur.

3. Planning Ahead to Avoid Downtime

Imagine a scenario in a manufacturing facility where a critical piece of equipment experiences an unexpected failure. The consequences could be disastrous, leading to costly downtime and missed production targets. With CIMCON Digital’s IoT Edge Platform in place, the same equipment would be continuously monitored in real-time. As soon as the platform detects any unusual behavior or signs of potential failure, it triggers an alert to the maintenance team.

Armed with this early warning, the maintenance team can plan the necessary repairs or replacements well in advance, avoiding unplanned downtime and minimizing disruption to production schedules. This capability not only ensures smooth operations but also optimizes maintenance resources and lowers the overall maintenance costs.

4. Real-Time Visibility into Asset Health

The IoT Edge Platform goes beyond detecting anomalies; it also provides real-time insights into the remaining useful life of assets. By analyzing historical performance data and asset health indicators, the platform estimates the remaining operational life of an asset with high accuracy.

Consider a scenario in a utility company managing a fleet of aging turbines. The maintenance team needs to know the remaining useful life of each turbine to plan proactive maintenance and avoid sudden breakdowns. With CIMCON Digital’s IoT Edge Platform, the team can access real-time information on the health of each turbine, enabling them to make data-driven decisions about maintenance schedules, parts replacement, and resource allocation.

5. Benefits of CIMCON Digital's IoT Edge Platform

CIMCON Digital’s IoT Edge Platform offers a host of benefits to businesses seeking to enhance their Predictive Maintenance capabilities:

a) Proactive Decision-making: By detecting anomalies in advance, the platform enables proactive decision-making, reducing reactive responses and enhancing overall operational efficiency.

b) Minimized Downtime: With the ability to schedule maintenance activities in advance, businesses can avoid costly downtime, leading to increased productivity and higher customer satisfaction.

c) Optimal Resource Allocation: The platform’s real-time visibility into asset health allows for better resource allocation, ensuring that maintenance efforts are targeted where they are most needed.

d) Cost Savings: By avoiding unexpected failures and optimizing maintenance schedules, businesses can significantly reduce maintenance costs and improve their bottom line.

Conclusion:

CIMCON Digital’s IoT Edge Platform empowers businesses to transcend traditional reactive maintenance practices and embrace a proactive approach to asset management. With the platform’s advanced ML algorithms, businesses can detect anomalies in advance, plan maintenance schedules proactively, and gain real-time visibility into asset health. This transformative capability results in minimized downtime, optimized resource allocation, and substantial cost savings. As CIMCON Digital’s IoT Edge Platform continues to revolutionize Predictive Maintenance, businesses can embark on a journey towards greater efficiency, productivity, and long-term sustainability.

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askagamedev · 1 year

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Why do developers make features that are resource intensive but not what the majority of players play or finish (for example, single player campaign's in multiplayer games)?

Sometimes certain features are expected by the general player population. Mark Darrah, former Bioware general manager, calls them "table stakes", as in they are stakes required to play at the table. These kind of features might not actually be popular or particularly good for the kind of game we're building, but the expectations are there among players, and the game's reception will take a hit if we don't include them so leadership decrees that we must spend the resources to build them.

This is often why we'll spend a lot of resources on a particular feature or mini game even if it doesn't really add a lot to the intended game experience. One of the most common complaints about Street Fighter 5 at launch was the lack of story mode, even though fighting games like SF5 live and die by the long-term multiplayer, rather than the single-player content. We also see this phenomena manifest in expensive minigame features like driving or stealth subsections of games that aren't primarily about driving or stealth. The fiction of the game suggests that there should be driving or stealth segments, so they're table stakes even if they aren't very good.

It's a little odd because it's these sorts of invisible pressures tend to be invisible with hindsight. Darrah's example of a table stakes feature was adding mounted movement to Dragon Age Inquisition. They really only added mounts in DAI because it was expected of their contemporaries and players expected them. However, the feature didn't really work well in DAI - the player lost out on the follower banter, they didn't actually move all that much faster than when on foot, the player would constantly stop to pick up loot and gather resources while exploring, and so on. The DAI player experience without mounts would likely have been totally fine, except for missing the expectations of the time period. Were the game to be released today, we'd probably be fine with it not having mounts in it. But back then, mounts were considered table stakes, so they did it.

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#resource allocation #table stakes #game production costs #working in the game industry

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nexval · 8 months

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#Resource Allocation #Automated Workflow System

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omegaphilosophia · 7 months

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Equity and Inequity in the Natural World: An Analysis

The natural world, characterized by its intrinsic beauty and complexity, presents a dichotomy of fairness and unfairness in its various mechanisms and processes. Here, we examine several aspects of this duality:

Equitable Aspects of Nature:

Ecosystem Equilibrium: Nature tends to uphold a state of equilibrium within ecosystems. Species, over time, adapt to their surroundings, and the intricate interplay between predators and prey functions as a regulatory force, averting overpopulation or extinction.

Natural Selection: Through the process of natural selection, organisms with traits best suited to their environments thrive and reproduce. This ensures the perpetuation of well-adapted species—a manifestation of the survival of the fittest.

Sustainable Resources: Many natural resources, such as sunlight, wind, and water, exhibit renewable qualities and are universally accessible. These resources remain uninfluenced by concepts of ownership or exclusivity.

Seasonal Variations: Seasonal fluctuations in climate and resource availability offer diverse species opportunities to flourish at distinct intervals, thereby upholding ecological diversity.

Inequitable Aspects of Nature:

Natural Catastrophes: Earthquakes, hurricanes, floods, and wildfires are capable of inflicting widespread devastation and loss of life without regard for fairness. These events are often perceived as inequitable due to their indiscriminate impact.

Genetic Disparities: Genetic mutations or congenital conditions may lead to disparities in health among individuals, resulting in unequal life prospects from the moment of birth.

Resource Scarcity: While certain resources are abundant, others, notably fresh water and arable land, exist in finite quantities. Competition for these resources can engender disparities in access.

Predation Dynamics: Predation, from the prey's perspective, appears unjust, given that it often culminates in suffering and fatality for one organism to sustain another.

Disease and Parasitism: The propagation of diseases and parasitic infestations can inflict suffering and death, seemingly arbitrarily affecting members within a population.

Climate Change: Climate change, largely driven by human activities, disproportionately affects vulnerable communities, rendering it inherently inequitable on a global scale.

Inherited Wealth or Territory: In certain instances, specific species inherit resources or territory by virtue of birth or other variables, yielding imbalances in access to essential resources.

It is pertinent to acknowledge that the notion of fairness within the natural world is often anthropomorphic, as nature operates devoid of moral adjudication. What may be perceived as inequitable by humans frequently arises from natural processes. Nevertheless, recognizing these facets can serve as a catalyst for human endeavors to mitigate inequity, advocate for conservation, and champion sustainability.

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mtbcleadgenbuzz · 11 months

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Boosting Your Bottom Line: Winning Tactics For Small Businesses

Boosting Your Bottom Line: Winning Tactics For Small Businesses Small businesses face numerous challenges in today’s competitive market, and one of the most significant obstacles is maintaining a healthy bottom line. Profitability remains an ongoing concern for small business owners who are often juggling multiple responsibilities to keep their enterprises running smoothly. However, there are…

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adnankhamisabuzanat · 1 year

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Maximising Efficiency: Adnan Khamis Abuzanat's Approach To Resource Allocation

Adnan Khamis Abuzanat believes that optimizing resource allocation can provide significant benefits for project managers and organizations, including reduced project costs, improved project outcomes, and increased stakeholder satisfaction. By using data and analytics to inform decision-making and regularly analyzing past performance, project managers can ensure that resources are being used effectively and efficiently.

#Adnan Khamis Abuzanat #Resource Allocation

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