Conditions Quote by Richard Arnold Epstein Download Open image “There are no conventional games involving conditions of uncertainty without risk.” — Richard Arnold Epstein ★ ★ ★ ★ ★ 2.7 out of 5 (9 ratings) Copy quoteShare Conditions Conditions Uncertainty Conventional Conventional Games Games Involving Risk Uncertainty Uncertainty Risk
Reflecting an amalgam of economics, monetary, and psychological factors, the stock market represents possibly the most subtly intricate game invented by man. — Richard Arnold Epstein Copy Share Image
Generally, a betting system for which each wager depends only on present resources and present probability of success is known as a Markov betting… — Richard Arnold Epstein Copy Share Image
The assumption that individuals act objectively in accordance with purely mathematical dictates to maximize their gain or utility cannot be sustained by empirical observation. — Richard Arnold Epstein Copy Share Image
Treatment of the apparently whimsical fluctuations of the stock quotations as truly non stationary processes requires a model of such complexity that its practical… — Richard Arnold Epstein Copy Share Image
The earliest full-length account of a chariot race appears in Book xxiii of the Iliad. — Richard Arnold Epstein Copy Share Image
A weakness of the random-walk model lies in its assumption of instantaneous adjustment, whereas the information impelling a stock market toward its "intrinsic value"… — Richard Arnold Epstein Copy Share Image
Coin matching and finger flashing were among the first formal games to arise in the history of gambling. The class of Morra games extends… — Richard Arnold Epstein Copy Share Image
A proven theorem of game theory states that every game with complete information possesses a saddle point and therefore a solution. — Richard Arnold Epstein Copy Share Image
The essence of the phenomenon of gambling is decision making. The act of making a decision consists of selecting one course of action, or… — Richard Arnold Epstein Copy Share Image
The French philosopher Pierre-Hyacinthe Azaïs (1766-1845) formalized the statement that good and evil fortune are exactly balanced in that they produce for each person… — Richard Arnold Epstein Copy Share Image
While no rigorous proof of an optimal strategy has been achieved, Robbins has proposed the principal of "staying on a winner" and has shown… — Richard Arnold Epstein Copy Share Image
From a rational standpoint, it might be expected that man should be far more willing to express financial confidence in his skills rather than… — Richard Arnold Epstein Copy Share Image
One can put some trust in the gratitude of a sovereign, and also in that of his family; under certain conditions, one can even… — Otto von Bismarck Copy Share Image
Most celebrated men live in a condition of prostitution. — Charles Augustin Sainte-Beuve Copy Share Image
It's easier to change a law than an age-old mentality. Deep down, many prejudices, many hostilities, many fears persist. But if we take a… — Dacia Maraini Copy Share Image
I can still function when I don't have that balance I crave. I had a tendency to be precious about acting, thinking of it… — Laura Regan Copy Share Image
History is, in its essentials, the science of change. It knows and it teaches that it is impossible to find two events that are… — Marc Bloch Copy Share Image
The average condition of the people improving or deteriorating, depends upon whether population is advancing faster than improvement, or improvement than population. — John Stuart Mill Copy Share Image
A good aim surveys the present state of experience of pupils, and forming a tentative plan of treatment, keeps the plan constantly in view… — John Dewey Copy Share Image
The God in whose hands are all our days and ways, did cast into my hand one day a book of Martin Luthers; it… — John Bunyan Copy Share Image
It clearly follows that to make men moral it is necessary to make their social environment moral. And that can be done in only… — Mikhail Bakunin Copy Share Image
Importunity is a condition of prayer. We are to press the matter, not with vain repetitions, but with urgent repetitions. We repeat, not to… — Edward McKendree Bounds Copy Share Image
The so-called evils are evils only in relation to a certain thing, and that which is evil in relation to a certain existing thing,… — Maimonides Copy Share Image
Experiences in order to be educative must lead out into an expanding world of subject matter, a subject matter of facts or information and… — John Dewey Copy Share Image