I heard of “Central Saint Martins” two days back and discovered today that it is – to quote Wikipedia – “widely regarded as one of the world’s leading art and design institutions.”
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Moments ago, my friend and I were discussing about outsourcing and its demerits. Somehow it digressed to the topic of how Hong Kong would be like in twenty years’ time. Here‘s one view of the current situation in Hong Kong. As Hong Kong faces intense competiton from the other two big cities at the Pearl River Delta – Guang Dong and Shen Zhen – how would it cope? Will it evolve into a hip and happening place as it attempts to – as my friend put it – “define itself outside the economic arena”?
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Not sure how I came across this, but the coolest term I learned today is “dynamic inconsistency”, a term used in game theory to refer to the inconsistency between a person’s preference at different points in time such that what is the preferred option now is altered as time passes. In behavioral economics, a similar concept is termed “time inconsistency”. I suppose the difference between the two terms lies in its focus? Dynamic inconsistency as used in game theory emphasizes the change in situation as the cause for inconsistent preferences whereas time inconsistency highlights the change in time and with that, a change in the “self” of a person, as the cause.
