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Comments (217)
You don't need a positive feedback to have instability.
Which means that there is an incentive to overstate preferences.
Yes you do. Like, rigid pendulum at the top of its swing, F = +kx. That's positive feedback. I suppose you can get around this requirement with discrete timesteps or other hackery, but classically speaking positive feedback <-> instability.
... differentially so, from a starting point of understated preferences, so that's a correcting change.
an unbiased random walk sufficies.
Okay, so that's the definition of 'unstable' you were using. You've now taken care of the nitpick and left the main thrust of the argument unaddressed.
(edited for spelling)
Can you rephrase the the main thrust of the argument?
All right. To keep it from ending up at the leaf of this back-and-forth, I'll edit-to-add it earlier on.