Accident Quote by Benoit Mandelbrot

It's like simulating earthquakes: we can over and over study a bubble, crash, bubble, crash. Then we can see mathematically if there's some regular…

— Colin Camerer

In the 1940s, economics started getting highly mathematical. It was basically because economists weren't smart enough to write down models of real behavior that…

— Richard Thaler

There's nothing really connecting the behavior of the Nile, metallurgy, and the behavior of prices except that I had the mathematical tools to explain…

— Benoit Mandelbrot

“Economists are all too often preoccupied with petty mathematical problems of interest only to themselves. This obsession with mathematics is an easy way of…

— Thomas Piketty

Most economists, when modeling market behavior, tend to sweep major fluctuations under the rug and assume they are anomalies. What I have found is…

— Benoit Mandelbrot

Tastes and behavior are important in economics. Nobody denies that. But the question is: How much of behavior is irrational, and how much of…

— Eugene Fama

For far too long economists have sought to define themselves in terms of their supposedly scientific methods. In fact, those methods rely on an…

— Thomas Piketty

If you think about basic science or coming up with new theories of mathematics, these are not the kinds of things which are necessarily…

— Peter Thiel

I had become interested in economics, an interest that was transformed into a lifetime dedication when I met with the mathematical theory of general…

— Gerard Debreu

The price of every thing rises and falls from time to time and place to place; and with every such change the purchasing power…

— Alfred Marshall

Time is the most important factor in determining market movements and by studying past price records you will be able to prove to yourself…

— William Delbert Gann

Economics has become increasingly an arcane branch of mathematics rather than dealing with real economic problems.

— Milton Friedman