Famous quotes with Random walk

• One recent history of economic thought (Jürg Niehans’s A History of Economic Theory) devotes twenty-four pages to Samuelson’s ideas. Adam Smith only gets thirteen. Samuelson’s work on stock markets and the random walk takes up less than two of those twenty-four pages. He was “the last generalist in economics,” as he liked to say, and for him financial market studies were just a side project that he at times seemed deeply ambivalent about. His intervention was, however, crucial to the triumph of the random walk. Here was one of the most important economists of all time, and he didn’t think the relationship between coin flips and the stock market was a dinner-speech triviality.

  Justin Fox
• From a Darwinian point of view, human beliefs are adaptations to our part of the world. No doubt much of what we believe must be roughly accurate, or else we would not have survived. But the beliefs we have evolved might latch on to the world only enough to help us stumble our way through it, and then only for the time being. Human belief-systems could be useful illusions, appearing and disappearing as they prove to be more or less advantageous in the random walk of natural selection. Might not evolution be one of these illusions? Scientific naturalism is the theory that human beliefs are evolutionary adaptations whose survival has nothing to do with their truth. But in that case scientific naturalism is self-defeating, since on its own premises scientific theories cannot be known to be true.

  John Gray (philosopher)

Related words & questions

Related words: random walker, random walk simulation, random walk algorithm, random walk math, what is a random walk, what is a random walker, how to create a random walker, how to make a random walker

Related questions:

What does a random walker do?

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