Quotes About Theory

We must get into the habit of paying strict attention to precisely what the fascist has to say and not to dismiss it as nonsense or hogwash. Now we have a better understanding of the emotional content of this theory, which sounds like a persecution mania when it is considered together with the theory of the poisoning of the nation.

Richer and more realistic assumptions do not suffice to make a theory successful. Scientists

She is a hedgehog. She has a theory that explains everything, and it gives her the illusion that she understands the world.

The errors of a theory are rarely found in what it asserts explicitly; they hide in what it ignores or tacitly assumes.

The agent of economic theory is rational, selfish, and his tastes do not change.

once you have accepted a theory and used it as a tool in your thinking, it is extraordinarily difficult to notice its flaws.

In simple words, prospect theory cannot deal with disappointment.

Prospect Theory: An Analysis of Decision Under Risk

But of course the main reason that decision theorists study simple gambles is that this is what other decision theorists do. The field had a theory, expected utility theory, which was the foundation of the rational-agent model and is to this day the most important theory in the social sciences.

During the first five years we spent looking at how people make decisions, we established a dozen facts about choices between risky options. Several of these facts were in flat contradiction to expected utility theory. Some had been observed before, a few were new. Then we constructed a theory that modified expected utility theory just enough to explain our collection of observations. That was prospect theory.

If you come upon an observation that does not seem to fit the model, you assume that there must be a perfectly good explanation that you are somehow missing. You give the theory the benefit of the doubt, trusting the community of experts who have accepted it.

I call it theory-induced blindness: once you have accepted a theory and used it as a tool in your thinking, it is extraordinarily difficult to notice its flaws.

Amos and I stumbled on the central flaw in Bernoulli's theory by a lucky combination of skill and ignorance.

We soon knew that we had overcome a serious case of theory-induced blindness, because the idea we had rejected now seemed not only false but absurd.

We were not the first to notice that people become risk seeking when all their options are bad, but theory-induced blindness had prevailed. Because the dominant theory did not provide a plausible way to accommodate different attitudes to risk for gains and losses, the fact that the attitudes differed had to be ignored.

Pogosto je tako. Teorija, filozofija, moderna umetnost, ekonomika in druga gibanja, ki uporabljajo obskurne abstrakcije, se lahko zlahka izrodijo v domišljave nebuloze in postajajo kruti peskovniki akademskih div in elit, ki so vajene tako navduševati kakor tudi ustrahovati.

These battles of the political theory books and manifestoes did not occur in a vacuum, nor were they without tangible consequences. Their dominating background was the growing heterogeneity of American society in the last quarter of the century: its more diverse and more vocal subcultures, on the one hand, and its steadily growing economic inequalities on the other.

Our theory has attempted to achieve this by operating on two levels. The first is the distinction between extractive and inclusive economic and political institutions. The second is our explanation for why inclusive institutions emerged in some parts of the world and not in others. While the first level of our theory is about an institutional interpretation of history, the second level is about how history has shaped institutional trajectories of nations. Central

The purely random sample is the only kind that can be examined with confidence by means of statistical theory, but there is one things wrong with it. It is so difficult and expensive to obtain for many uses that sheer cost eliminates it. A more economical substitute, which is almost universally used in such fields as opinion polling and market research, is called stratified random sampling.

The purely random sample is the only kind that can be examined with entire confidence by means of statistical theory, but there is one thing wrong with it. It is so difficult and expensive to obtain for many uses that sheer cost eliminates it. A more economical substitute, which is almost universally used in such fields as opinion polling and market research, is called stratified random sampling.

The other huge qualifier is that I used the principles I teach to personally build wealth. My wife and I have truly lived this book. The things we teach are not theory—they work!

I subscribe to the theory that Mankind never domesticated any animal. They came in from the cold and looked cute until they were fed.

I think when you're learning an instrument, you are restricted because much of it is the noise of individual theory and your ability to play the instrument.

A]ll knowledge goes through both stages, the annunciation out of noise into fact, and the disintegration back into noise again. The process involved was the making of increasingly finer distinctions. The outcome was an endless series of theoretical catastrophes.