EXCHANGEABILITY AND ITS ECONOMIC APPLICATIONS

The symmetry possessed by exchangeability is the key to its usefulness. The methods that are used to comprehend reality will edify insofar as they reflect this symmetry. This is true of theoretical models, empirical methods, and algorithms. Indeed, if the design of mechanisms is by rearrangement of natural matter, their survival value will depend on the degree to which they retain the symmetry of the original matter. This comment encompasses complex machinery and sophisticated political, social, and economic institutions. The paper simply embroiders this observation. © 1991.