ata comments on Could markets be called optimization proccesses? - Less Wrong
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Comments (28)
I'm pretty sure you're still not using the word "optimization" in the sense of the phrase "optimization process" as used on Less Wrong. An optimization process doesn't have to be a process that maximizes an explicitly-defined utility function; the function can be implicit in its structure or behaviour.
It's not really the same as the sense of "optimization" described in the aforelinked Wikipedia article, which isn't the subject of this discussion post. The terminology of "optimization processes" is used to analyze dynamics acting within a system.