Re: The transaction is not symmetrical ...
> I agree with this 100%. You should let Worstal know, because he's the Efficient Marketeer here, not I.
Then you're just talking in circles.
ST: I just know Tim believes efficient markets require complete information.
Tim: No I don't.
ST: Well, you say that, but you're not talking about real efficient markets that real economists believe in. Everyone who works in finance or economics believes efficient markets require complete information.
Me: No they don't.
ST: I agree. But why are you arguing with me? It was Tim who claimed efficient markets require complete information.
> And how exactly does this work in real life? Is Facebook going to quote me a price for my personal data?
Er, yes: they offer you a service. That's the price. At Christmas, do you open all your presents and say "What, no cash? Does everyone hate me?"
But why pick on just Facebook from that list? Tesco and Boots give you vouchers -- in Tesco's case, they're nearly as good as cash. The Co-op give you actual cash. Avios give you holidays. Tesco vouchers can be used to buy ferry and Chunnel crossings, which amounts to about a hundred quid off the price of my family's annual holiday. So the answer to your question is a literal yes: when we fill up with petrol, we do so at Tesco garages, because they, in return for knowing how much petrol we use, offer us most of the cost of a crossing to France, and other petrol stations don't. They make a bid and we accept it. Which you insist is impossible.
> Good for you, atta boy! Have a cookie.
Look, it was you who claimed that there is no market for personal data and no available mechanism for selling it. The only purpose of your rather laboured sarcasm here is to distract attention from my having just demonstrated that to be unequivocally wrong.
> I don't need your schooling.
In finance, probably not. In reading comprehension, you sure need someone's.