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

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

    [My father] was a lazy man. It was the days of independent incomes, and if you had an independent income you didn’t work. You weren’t expected to. I strongly suspect that my father would not have been particularly good at working anyway. He left our house in Torquay every morning and went to his club. He returned, in a cab, for lunch, and in the afternoon went back to the club, played whist all afternoon, and returned to the house in time to dress for dinner.
    Agatha Christie (1891–1976)

    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 great tragedy of science—the slaying of a beautiful hypothesis by an ugly fact.
    Thomas Henry Huxley (1825–95)

    My belief is that science is to wreck us, and that we are like monkeys monkeying with a loaded shell; we don’t in the least know or care where our practically infinite energies come from or will bring us to.
    Henry Brooks Adams (1838–1918)

    When a paradox is widely believed, it is no longer recognized as a paradox.
    Mason Cooley (b. 1927)