Chain Ladder

Famous quotes containing the words chain and/or ladder:

    The conclusion suggested by these arguments might be called the paradox of theorizing. It asserts that if the terms and the general principles of a scientific theory serve their purpose, i. e., if they establish the definite connections among observable phenomena, then they can be dispensed with since any chain of laws and interpretive statements establishing such a connection should then be replaceable by a law which directly links observational antecedents to observational consequents.
    —C.G. (Carl Gustav)

    But ‘tis a common proof
    That lowliness is young ambition’s ladder,
    Whereto the climber-upward turns his face;
    But when he once attains the upmost round
    He then unto the ladder turns his back,
    Looks in the clouds, scorning the base degrees
    By which he did ascend.
    William Shakespeare (1564–1616)