Quotes about payoff (28 quotes) | Quotes of famous people

“You learn after a while that it's not getting your face recognised that's the payoff. It's having your film remembered.”

Leonardo DiCaprio (1974) American actor and film producer

http://www.popmonk.com/actors/leonardo-dicaprio/quotes-leonardo-dicaprio.htm

Learning

“We should willingly take risks in supporting new projects. The tendency is to play it safe when funding is low, but we need to remember that the greatest risks have the greatest payoffs.”

Jerome Isaac Friedman (1930) American physicist

"Will Innovation Flourish in the Future?," 2002

Support

“Being a CEO is the nuts! A whole jumble of thoughts come to mind: Over the top. Wild. Fun. Outrageous. Crazy. Passion. Perpetual motion. The give-and-take. Meetings into the night. Incredible friendships. Fine wine. Celebrations. Great golf courses. Big decisions in the real game. Crises and pressure. Lots of swings. A few home runs. The thrill of winning. The pain of losing. It's as good as it gets! You get paid a lot, but the real payoff is in the fun.”

Jack Welch (1935) American executive: General Electric CEO

Source: Jack: Straight from the Gut (2001), Ch. 24.

Pain , Friendship , Home , Game

“Nothing defines humans better than their willingness to do irrational things in the pursuit of phenomenally unlikely payoffs. This is the principle behind lotteries, dating, and religion.”

Scott Adams (1957) cartoonist, writer

The Dilbert Principle (1995)

Religion

“Small kindnesses often, unintentionally, produce the biggest payoffs.”

Richard Paul Evans (1962) American writer

Source: The Gift

“Would you complain because a beautiful sunset doesn't have a future or a shooting star a payoff? And why should romance 'lead anywhere'? Passion isn't a path through the woods. Passionthe woods.”

Tom Robbins Half Asleep in Frog Pajamas

Source: Half Asleep in Frog Pajamas

Beauty , Star , Passion , Future

“We're more comfortable in that kind of business. It means we miss a lot of very big winners. But we wouldn't know how to pick them out anyway. It also means we have very few big losers - and that's quite helpful over time. We're perfectly willing to trade away a big payoff for a certain payoff.”

Warren Buffett (1930) American business magnate, investor, and philanthropist

1999 Berkshire Hathaway Annual Meeting, as quoted in "Why Won't Buffett Invest in Tech Stocks?" at Motley Fool (6 March 2000) http://www.fool.com/boringport/2000/boringport000306.htm

Business , Time , Help

“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.”

Steven Pinker book How the Mind Works

Source: How the Mind Works (1997), p. 175

Life , Food , Way , Decision

“During this period I was able to carry out only one project of real interest to me. Pure Oil was a fully integrated oil company in the sense that they engaged in exploration for oil, construction of oil wells, production of crude oil, transportation to refineries, distribution of refinery products to company owned storage facilities and to gas stations. We developed a linear programming model of the whole network hoping to discover the optimum allocation to and from connected nodes in order to meet required deliveries at minimum cost. Then we collected all the data needed by our model and ran the model. The computations took several days and the results were disappointing: The optimum allocations were not significantly different from their current practices. Is it possible that we had discovered a system of human beings in which everyone knew the payoff functions and constraints, and, over time, had evolved behavior patterns that enabled them to achieve near optimum performance? Or was it possible that our model was not detailed enough as it was based so closely on current practice that no new behavior could emerge? Or was our data incorrect? This was disappointing but great experience.”

A. Wayne Wymore (1927–2011) American mathematician

Systems Movement: Autobiographical Retrospectives (2004)

Hope , Disappointment , Behavior , Sense

“The paper develops a new theory for the analysis of games with incomplete information where the players are uncertain about some important parameters of the game situation, such as the payoff functions, the strategies available to various players, the information other players have about the game, etc. However, each player has a subjective probability distribution over the alternative possibilities.
In most of the paper it is assumed that these probability distributions entertained by the different players are mutually "consistent," in the sense that they can be regarded as conditional probability distributions derived from a certain "basic probability distribution" over the parameters unknown to the various players. But later the theory is extended also to cases where the different players' subjective probability distributions fail to satisfy this consistency assumption.”

John Harsanyi (1920–2000) hungarian economist

Source: "Games with Incomplete Information Played by “Bayesian” Players," 1967, p. 159 : Abstract

Game , Sense

“The basic hypothesis is that, while the total supply of entrepreneurs varies among societies, the productive contribution of the society's entrepreneurial activities varies much more because of their allocation between productive activities such as innovation and largely unproductive activities such as rent seeking or organized crime. This allocation is heavily influenced by the relative payoffs society offers to such activities. This implies that policy can influence the allocation of entrepreneurship more effectively than it can influence its supply. Historical evidence from ancient Rome, early China, and the Middle Ages and Renaissance in Europe is used to investigate the hypotheses.”

William J. Baumol (1922–2017) American economist

Source: "Entrepreneurship: Productive, unproductive, and destructive," 1996, p. 3

Age

“"I guess I want things to be like they were before. Hell, we're almost ready to graduate." "Tell you what, Carter," Archie said. "Let things stay the same as before, like you just said. Let the last days come and go. Graduation. But that's not the end of it, Carter. You were a traitor and you're going to pay for that. Some way, someday. Not tomorrow, not next month. Or even next year, maybe. But someday. And who knows? Maybe next month, after all. That's a promise, Carter. When you least expect it. When everything is rosy and beautiful. Then comes the payoff. Because you can't be allowed to get away clean, without paying for it, Carter."”

Robert Cormier book Beyond the Chocolate War

Source: Beyond the Chocolate War (1985), p. 208

Beauty , Way , Hell

“Before the payoff game in a World Series with the Dodgers in Brooklyn, Casey Stengel said in the clubhouse, "Well, this is it. Now who do you want to pitch?" The 40 guys in the clubhouse shouted "Raschi!" so loud the Dodgers must have heard it across the way. That's what we Yankees thought of Raschi. What did Raschi have? He had a slider and a curve that wasn't too good, but what made him so rough was a fast ball that got them out. Funny thing about him was that he couldn't relieve as good as Toots Shor. The guy was built to finish what he started.”

Yogi Berra (1925–2015) American baseball player, manager, coach

As quoted in "Raschi Was Best Hurler: Yogi" https://news.google.com/newspapers?id=2rEfAAAAIBAJ&sjid=PdcEAAAAIBAJ&pg=1965%2C6170607 by Harry Grayson, in The Cape Girardeau Southeast Missourian (Thursday, March 17, 1960), p. 3B.

World , Way , Guy , Game

“When Piedmont died, I had to pay him back for my life. I found out there's another debt to pay — for the privilege of being alive. I thought Sophie was my reward for trying to live a good life. Uh uh. There is no payoff — not now.”

Bill Murray (1950) American actor and comedian

The Razor's Edge (1984)

Life

“The best practical advice then is: try to maximize your expected payoff, which is the sum of all payoffs multiplied by probabilities.”

Howard Raiffa (1924–2016) American academic

Part I, Chapter 2, Research Perspectives, p. 31.
The Art and Science of Negotiation (1982)

“Management has a design and operation function, as does engineering. The design is usually done under the heading of organization. It should be noted first that the performance of a group of people is a strong function of the capabilities of the individuals and a rather weak function of the way they are organized. That is, good people do a fairly good job under almost any organization and a somewhat better one when the organization is good. Poor talent does a poor job with a bad organization, but it is still a poor job no matter what the organization. Repeated reorganizations are noted in groups of individuals poorly suited to their function, though no amount of good organization will give good performance. The best architectural design fails with poor bricks and mortar. But the payoff from good organization with good people is worthwhile.”

Robert E. Machol (1917–1998) American systems engineer

Source: System Engineering (1957), p. 514; As cited in: Joseph E. Kasser (2010) " Seven systems engineering myths and the corresponding realities http://www.synergio.nl/media/59286/7_myths_of_se.pdf"

People , Way , Strong

“Political scientists have long relied on organization theory as their foundation for understanding public bureaucracy. This approach makes good sense, but so far the payoffs have been rather limited. The surface problem is that organization theory, as the creature of sociologists, social psychologists, and, in more recent years, economists, has developed around explanatory concerns having little or nothing to do with government. The more fundamental problem is that political scientists have allowed this to happen by largely abandoning the field of organizations.”

Terry M. Moe (1949) American political scientist

Terry M. Moe, "Toward a Theory of Public Bureaucracy." Oliver E. Williamson ed. Organization theory: From Chester Barnard to the present and beyond (1995): 116.

Understanding , Problem , Sense

“Most advocates of the nonphysical self have been happy enough with the immortality payoff not to obsess about the incoherence it carries with it.”

Alexander Rosenberg (1946) American philosopher

The Atheist's Guide to Reality (2011)

Happiness

“It violates the essence of what made America a great country in its political system. Now it’s just an oligarchy with unlimited political bribery being the essence of getting the nominations for president or being elected president. And the same thing applies to governors, and U. S. Senators and congress members. So, now we’ve just seen a subversion of our political system as a payoff to major contributors, who want and expect, and sometimes get, favors for themselves after the election is over. … At the present time the incumbents, Democrats and Republicans, look upon this unlimited money as a great benefit to themselves. Somebody that is already in Congress has a great deal more to sell, to an avid contributor.”

Jimmy Carter (1924) American politician, 39th president of the United States (in office from 1977 to 1981)

Statement on the Citizens United decision of the Supreme Court, in an interview with Thom Hartmann (28 July 2015) https://www.youtube.com/watch?v=hDsPWmioSHg; also quoted in Jimmy Carter: U.S. Is an 'Oligarchy With Unlimited Political Bribery'" in Rolling Stone (31 July 2015) http://www.rollingstone.com/politics/videos/jimmy-carter-u-s-is-an-oligarchy-with-unlimited-political-bribery-20150731, and in "Jimmy Carter Is Correct That the U.S. Is No Longer a Democracy" by Eric Zuesse, in Huffington Post (3 August 2015) http://www.huffingtonpost.com/eric-zuesse/jimmy-carter-is-correct-t_b_7922788.html.
Post-Presidency

Money , Time , Country

“The farsighted Willard G. Wyman, the commanding general of the Continental Army Command, had asked Stoner to design a rifle precisely to take advantage of the “payoff” of smaller bullets. The AR-15, the precursor of the M-16, used.22-caliber bullets instead of the.30-caliber that had long been standard for the Army. As early as 1928, an Army “Caliber Board” had conducted firing experiments in Aberdeen, Maryland, and had then recommended a move toward smaller ammunition…”

James Fallows (1949) American journalist

"M-16: A Bureaucratic Horror Story" The Atlantic (June 1981) https://www.theatlantic.com/magazine/archive/1981/06/m-16-a-bureaucratic-horror-story/545153/

“Evolutionary game theory is one of the most active and rapidly growing areas of research in economics. Unlike traditional game theory models, which assume that all players are fully rational and have complete knowledge of details of the game, evolutionary models assume that people choose their strategies through a trial-and-error learning process in which they gradually discover that some strategies work better than others. In games that are repeated many times, low-payoff strategies tend to be weeded out, and an equilibrium may emerge.”

Larry Samuelson (1953) American economist

Larry Samuelson. Evolutionary Games and Equilibrium Selection. 1997. Overview.

People , Error , Game , Knowledge

“We can regard the vector ci as representing certain physical, social, and psychological attributes of player i himself in that it summarizes some crucial parameters of player i's own payoff function Ui as well as the main parameters of his beliefs about his social and physical environment… the rules of the game as such allow any given player i to belong to any one of a number of possible types, corresponding to the alternative values of his attribute vector c i could take… Each player is assumed to know his own actual type but to be in general ignorant about the other players' actual types.”

John Harsanyi (1920–2000) hungarian economist

Source: "Games with Incomplete Information Played by “Bayesian” Players," 1967, p. 171; As quoted in: Mertens, Jean-Francois, and Shmuel Zamir. " Formulation of Bayesian analysis for games with incomplete information http://jeremy-chen.org/sites/default/files/files/convexset/2013_01/formulation_of_bayesian_analysis_for_games_with_incomplete_information_mertens_and_zamir_1985.pdf." International Journal of Game Theory 14.1 (1985): p. 1-2

Game

“Following von Neumann and Morgenstern [7, p. 30], we distinguish between games with complete information, to be sometimes briefly called C-games in this paper, and games with incomplete information, to be called I-games. The latter differ from the former in the fact that some or all of the players lack full information about the "rules" of the game, or equivalently about its normal form (or about its extensive form). For example, they may lack full information about other players' or even their own payoff functions, about the physical facilities and strategies available to other players or even to themselves, about the amount of information the other players have about various aspects of the game situation, etc.
In our own view it has been a major analytical deficiency of existing game theory that it has been almost completely restricted to C-games, in spite of the fact that in many real-life economic, political, military, and other social situations the participants often lack full information about some important aspects of the "game" they are playing.”

John Harsanyi (1920–2000) hungarian economist

Source: "Games with Incomplete Information Played by “Bayesian” Players," 1967, p. 163: Lead paragraph's

Life , Game

“Economic hit men (EHMs) are highly paid professionals who cheat countries around the globe out of trillions of dollars. They funnel money from the World Bank, the U. S. Agency for International Development (USAID), and other foreign “aid” organizations into the coffers of huge corporations and the pockets of a few wealthy families who control the planet’s natural resources. Their tools include fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder. They play a game as old as empire, but one that has taken on new and terrifying dimensions during this time of globalization. I should know; I was an EHM.”

John Perkins book Confessions of an Economic Hit Man

Confessions of an Economic Hit Man (2004)

Men , Money , World , Family

“Change the payoffs.”

Robert Axelrod The evolution of cooperation

A common reaction of someone caught in a Prisoner's Dilemma is that "there ought to be a law against this sort of thing."

In fact, getting out of Prisoner's Dilemmas is one of the primary functions of government: to make sure that when individuals do not have private incentives to cooperate, they will be required to do the socially useful thing anyway. Laws are passed to cause people to pay their taxes, not to steal, and to honor contracts with strangers. Each of these activities could be regarded as a giant Prisoner's Dilemma game with many players.

Chap. 7 : How to Promote Cooperation
The Evolution of Cooperation (1984; 2006)

Change

“TIT FOR TAT is collectively stable if and only if, w is large enough. This critical value of w is a function of the four payoff parameters, T; R, P, and S.”

Robert Axelrod The evolution of cooperation

Chap. 3 : The Chronology of Cooperation
Proposition 2.
The Evolution of Cooperation (1984; 2006)

“Payoff will come when we make better use of computers to bring communities of people together and to augment the very human skills that people bring to bear on difficult problems.”

Douglas Engelbart (1925–2013) American engineer and inventor

Source: https://www.dougengelbart.org/content/view/348/000/#annotations:AVM5A_shH9ZO4OKSlBtx

Problem , Making love , People , Communication

“This is an inheritance for the future, and what better way to get people interested and understanding that than getting them involved. The key elements are education, empowerment, and restoration. Education: getting people to connect with the ocean, to understand why it's important, why they should care, whether they're on the oceanside or not. Empowerment: saying, you can make a difference, and come with us, let's go do it together. And of course the restoration aspect is the payoff.”

Fabien Cousteau (1967) French filmmaker and oceanographer

An Interview with Ocean Explorer Fabien Cousteau https://blogs.sierraclub.org/greenlife/2010/10/an-interview-with-ocean-explorer-fabien-cousteau.html (October 19, 2010)

Understanding , Way , Education , Future