A model identified with George Soros and explained in his book 'The Alchemy of Finance':

The concept of reflexivity is very simple. In situations that have thinking participants, there is a two-way interaction between the participants’ thinking and the situation in which they participate.

On the one hand, participants seek to understand reality; on the other, they seek to bring about a desired outcome. The two functions work in opposite directions...


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George Soros adds in 'Money Masters of Our Time' by John Train:

The outstanding feature of my predictions is that...

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