Making a market combines probability estimates with measures of confidence and risk. It's good practice in finance, and good practice for Bayesians.
A few thoughts on how finance improves and why it sometimes sucks.
People hate the financial industry and are confident they know how to fix it, in proportion with how ignorant they are of the basic facts about it. This post will at least help with the latter.
People have lent money to family and friends since money was invented, and I have been doing it since I was a teenager. So why is the internet unanimous in saying that it's a terrible idea?
Putanumonit's simple and suboptimal guide to personal finance and investment.
An anecdote from investment banking shows how bad statistics hide in every industry, and what makes people learn to avoid them.