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

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

    What strikes me as odd now is how much my father managed to get across to me without those heart-to-hearts which I’ve read about fathers and sons having in the study or in the rowboat or in the car.... Somehow I understood completely how he expected me to behave, in small matters as well as large, even though I can’t remember being given any lectures about it beyond the occasional, undramatic “You might as well be a mensch.”
    Calvin Trillin (20th century)

    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)

    It is more than likely that the brain itself is, in origin and development, only a sort of great clot of genital fluid held in suspense or reserved.... This hypothesis ... would explain the enormous content of the brain as a maker or presenter of images.
    Ezra Pound (1885–1972)

    Hath not the morning dawned with added light?
    And shall not evening call another star
    Out of the infinite regions of the night,
    To mark this day in Heaven? At last, we are
    A nation among nations; and the world
    Shall soon behold in many a distant port
    Another flag unfurled!
    Henry Timrod (1828–1867)

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