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EXECUTIVE POLL

Bernard Madoff, convicted of running an $65 billion Ponzi scheme, was sentenced to 150 years in jail. What’s your take on his punishment?

Too heavy. There’s no point having him die in jail.
About right.
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Not sure
 
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The Kiplinger Washington Editors
July 2, 2009
 

Overhauling
Financial Regs

By year-end or so, Congress will give the nod to a major rewriting of the nation's financial regulatory system. This week’s Kiplinger Letter explores whether the package will do more harm than good and what lawmakers are likely to include.
 
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OPEN FORUM: Share your insights and analysis with other visitors.
 
I just attended a franchise seminar. The speaker represents a few hundred franchises that (he says) are hand picked. He has the prospect (aka victim?) answer some questions about themselves then he makes recomendations - based on your personality, capital situation, etc.. If you pick a franchise, then he does some due dilligence for you. If you both decide it's a good idea, he helps you get started. He says he offers this service free of charge, which means he gets a commission if he's able to sell you a franchise. Has anyone done this? Successfully? Unsuccessfully?
-- fender
 

Get Design Help from Internet Dwellers

User reaction is crucial to designing and tweaking new products and services, but getting solid feedback can be expensive. Will "crowdsourcing" help?
 
 
PARC
PARC, known as one of the most innovative commercial research labs in the world, was once the in-house lab for Xerox and is known for developing such technologies as laser printing and the Ethernet. It is now a wholly owned subsidiary of Xerox that discovers and implements breakthroughs for commercial and government clients.

The accompanying article on "crowdsourcing" was written by PARC researchers Aniket Kittur and Ed H. Chi with help from intern Bongwon Suh.

By, Aniket Kittur, Ed H. Chi, & Bongwon Suh
PARC

Surveys, focus groups, usability studies -- all are ways that companies figure out how to improve their products before they are put on the market. But each method has its own limits and most are costly. "Crowdsourcing" through the Internet may change that.

Crowdsourcing through "micro-tasking" -- where many users perform tasks that take just minutes to perform for a small reward -- is already widely used for certain types of jobs, according to researchers at the groundbreaking Palo Alto Research Center (PARC). "Micro-task markets have been highly successful in domains such as question-and-answer matching (e.g., Yahoo! Answers, Amazon Askville). They offer the practitioner a way to quickly access a large user pool, collect data and compensate users with micro-payments."

Using a service created by Amazon to collect user input at a low cost called Mechanical Turk (mturk.com), the researchers conducted experiments to assess how well and how usefully "turkers," as the participants call themselves, could evaluate products. It had the network critique Wikipedia articles and compared the results to critiques by well-versed Wikipedia administrators. The first effort was disappointing, largely because many responses were attempts to game the system -- get paid without actually reading or seriously evaluating the articles. But when the researchers created questions that could not be answered without reading and thinking about the article, the results were much closer to those of the experts.

"The match to expert ratings is somewhat remarkable, given the major differences between the turkers and the admins," the researchers write. "The correlation between the two populations supports the utility of using crowds to approximate expert judgments in this setting." Their paper spells out the pitfalls and promise of crowdsourcing and offers tips for designing tasks to provide the most reliable results. The top concern, they say, is to have "explicitly verifiable questions as part of the task." That not only helps to ensure genuine answers, but signals that answers will be scrutinized carefully, "which may play a role in both reducing invalid responses and increasing time-on-task."

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