Source: The Inefficient Stock Market - What Pays Off And Why (1999), Chapter 3, Estimating Portfolio Risk and Expected Return with Ad Hoc Factor Models, p. 29
“Stripped to its essentials, every decision in life amounts to choosing which lottery ticket to buy.... Most organisms don't buy lottery tickets, but they all choose between gambles every time their bodies can move in more than one way. They should be willing to 'pay' for information---in tissue, energy, and time---if the cost is lower than the expected payoff in food, safety, mating opportunities, and other resources, all ultimately valuated in the expected number of surviving offspring. In multicellular animals the information is gathered and translated into profitable decisions by the nervous system.”
Source: How the Mind Works (1997), p. 175
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Steven Pinker 33
psychologist, linguist, author 1954Related quotes
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On se fâche souvent contre les Gens de Lettres qui se retirent du monde. On veut qu'ils prennent intérêt à la Société dont ils ne tirent presque point d'avantage. On veut les forcer d'assister éternellement aux tirages d'une loterie où ils n'ont point de billet.
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Reflections

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