The HUDF has provided very high-quality information. It is the first data we could use to test this theory, since it allowed us to study about 5,000 distant galaxies over a period of four months.

So the theory asks, how can shareholders ascertain what the firm's real prospects are when they have less information, ... It's a pervasive aspect of modern economies.

Generally, the theories we believe we call facts, and the facts we disbelieve we call theories

[The capability theory avoids such pitfalls because it insists that quality of life must take into account such incommensurable factors as access to education, quality of personal relationships, political freedom, etc.] The right question to ask seemed to us to be: what are people actually able to do and to be? ... And we look at capabilities rather than actual functioning because we think it's the opportunities that are important. People should be free to choose which ones to use.

High-quality and timely information is the lifeblood of strong, vibrant markets. It is at the very core of investor confidence,

You can get feedback from your customers. You really couldn't pay enough to get that same quality of information.