Dumb Agent Theory Outside The Financial Markets
USS Scorpion (SSN-589) was a nuclear submarine of the United States Navy lost at sea on June 5, 1968. While a public search did not yield any clues as to its location, Dr. John Craven, the Chief Scientist of the U.S. Navy's Special Projects Division, decided to employ the Bayesian search theory in order to establish its location. This involved formulating different hypotheses as to its location and using a probability distribution to combine the information and find the point of highest probability. The different hypotheses were taken from various independent sources, such as mathematicians, submarine specialists, and salvage men. The point Craven found ended up being 220 yards from the actual position of the sunken vessel.
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Famous quotes containing the words dumb, agent, theory, financial and/or markets:
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How at my sheet goes the same crooked worm.”
—Dylan Thomas (1914–1953)
“I wish not to be given a title or an appointed position. I can and will do more good if I were made a Federal Agent at Large, and I will help best by doing it my way through my communications with people of all ages. First and Foremost I am an entertainer but all I need is the Federal Credentials.”
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“The theory of truth is a series of truisms.”
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“A theory of the middle class: that it is not to be determined by its financial situation but rather by its relation to government. That is, one could shade down from an actual ruling or governing class to a class hopelessly out of relation to government, thinking of gov’t as beyond its control, of itself as wholly controlled by gov’t. Somewhere in between and in gradations is the group that has the sense that gov’t exists for it, and shapes its consciousness accordingly.”
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“When the great markets by the sea shut fast
All that calm Sunday that goes on and on:
When even lovers find their peace at last,
And Earth is but a star, that once had shone.”
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