woensdag 27 oktober 2010

Means objectives

'Now I don't see anything evil in a desire to make money. But money is only a means to some end. If a man wants it for a personal purpose - to invest in industry, to create, to study, to travel, to enjoy luxury - he's completely moral. But the men who place money first go much beyond that. Personal luxury is a limited endeavour. What they want is ostentation: to show, to stun, to entertain, to impress other.'

Howard Roark in The Fountainhead by Ayn Rand

zondag 24 oktober 2010

Too much choice

'"What I mean is, what makes people unhappy is not too little choice, but too much," said Michell Layton, "Having to decide, always to decide, torn every which way all of the time."

From The Fountainhead by Ayn Rand

donderdag 21 oktober 2010

Rational action

'[I]ndividual rational action can hurt the group as a whole'
De Wit, B. & R.Meyer. 1998. Strategy. London: International Thomson Business Press, 104

maandag 18 oktober 2010

Faire une action

'il y a un temps pour toutes choses et pout toute action ici'
L'Ecclesiaste, 4.17

zondag 17 oktober 2010

Pragmatic arguments

'Generally speaking, pragmatic arguments seek to show that decision makers who violate certain principles of rationality may face a decision problem in which it is certain that they will stand to loose, come what may. (...) [N]ote that pragmatic arguments need of course not be formulated in monetary terms. One could equally well construct a scenario in which the decision maker who follows [his] irrational preferences is certain to lose some ice cream, or happiness, or moral virtue, or whatever she cares about'
Peterson, M. 2009. An introduction to decision theory. Cambridge: University Press, 165.

zaterdag 16 oktober 2010

Life isn't a zero-sum game

'When Gurus tell us that life isn't a zero-sum game, they (...) aren't saying anything about the total sum of happiness in the world. They are just reminding us that the games we play in real life are seldom games of pure conflict'
Binmore, K. 2007, Game theory. A very short introduction. Oxford: University Press, 10.

zaterdag 9 oktober 2010

Convergence

'If two or more decion makers initially disagree about the unconditional probability of some random event, i.e. if they start with different priors, than this disagreement could be resolved by applying Bayes' theorem over and over again every time they receive new data' (...) 'Therefore, it does not really matter if a group of people do not know what the 'true' prior is; no matter what numbers they start off with they will always come to agree in the long run'
Peterson M.2009. An introduction to decision theory. Cambridge: University Press, 130

Self-evident

'If nothing is self-evident, nothing can be proved'
Lewis, C.S. 1978. The abolition of man. Glasgow: Collins

zondag 3 oktober 2010

Event or propositions?

The theory of probability can be formulated in set-theoretical terms. Or in the language of propositional logic. 'The difference between the two approaches is important, since they assign probabilities to different kinds of things. If we use the first set of axioms we assign probabilities to events, that is, things that take place in the external world. The second set assigns probabilities to linguistic entities, viz. propositions'.
Peterson, M. 2009. An introduction to decision theory. Cambridge: University Press, 121.

Axioms

'The probability calculus is an axiomatised theory. This means that alle true (mathematical) statements about probability can be derived form a small set of basic principles, or axioms'
Peterson, M. 2009. An introduction to decision theory. Cambridge: University Press, 120