Expected Utility Hypothesis/infinite Expected Value %E2%80%94 St Petersburg Paradox

Famous quotes containing the words expected, utility, hypothesis, infinite and/or paradox:

    Accidents will occur in the best-regulated families; and in families not regulated by that pervading influence which sanctifies while it enhances ... in short, by the influence of Woman, in the lofty character of Wife, they may be expected with confidence, and must be borne with philosophy.
    Charles Dickens (1812–1870)

    Moral sensibilities are nowadays at such cross-purposes that to one man a morality is proved by its utility, while to another its utility refutes it.
    Friedrich Nietzsche (1844–1900)

    The wheels and springs of man are all set to the hypothesis of the permanence of nature. We are not built like a ship to be tossed, but like a house to stand.
    Ralph Waldo Emerson (1803–1882)

    Each man has his own vocation. The talent is the call. There is one direction in which all space is open to him. He has faculties silently inviting him thither to endless exertion. He is like a ship in the river; he runs against obstructions on every side but one; on that side all obstruction is taken away, and he sweeps serenely over a deepening channel into an infinite sea.
    Ralph Waldo Emerson (1803–1882)

    ... it is the desert’s grimness, its stillness and isolation, that bring us back to love. Here we discover the paradox of the contemplative life, that the desert of solitude can be the school where we learn to love others.
    Kathleen Norris (b. 1947)