Early in 1954 I was appointed Lecturer in Economics at the University of Queensland in Brisbane. Then, in 1956, I was awarded a Rockefeller Fellowship, enabling me and Anne to spend two years at Stanford University, where I got a Ph.D. in economics, whereas Anne got an M.A. in psychology. I had the good fortune of having Ken Arrow as advisor and as dissertation supervisor. I benefitted very much from discussing many finer points of economic theory with him. But I also benefitted substantially by following his advice to spend a sizable part of my Stanford time studying mathematics and statistics. These studies proved very useful in my later work in game theory.
John HarsanyiRelated topics
advice arrow benefit dissertation early economics enabling following fortune game good having later lecturer mathematics psychology spend statistics supervisor work years Rockefeller Anne pointsRelated quotes
With the assistance of mathematics, I can see a property of the ninety-nine dimensional surfaces hidden from the naked eye. If an increase in the price of fertilizer alone always increases the amount the firm buys of caviar, from that fact alone I can predict the answer to the following experiment which I have never seen performed and upon which I have no observations: an increase in the price of caviar alone will increase the amount the firm buys of fertilizer. In thermodynamics such reciprocity or integrability conditions are known as Maxwell Conditions; in economics they are known as Hotelling conditions in honor of Harold Hotelling's 1932 work.
Paul Samuelson
This character out of my fantasy, whose author I became in the days of my partly literary, partly solitary or.. inward youth, has lived, apparently, since that faded time with a certain life - which his reticence, more than what he said, has persuaded a few readers to attribute to him.
Teste was conceived - in a room where Auguste Comte spent his early years - at a period when I was drunk on my own will and subject to strange excesses of consciousness of my self.
I was suffering from the acute ailment called precision. I tended toward the extreme of the reckless desire to understand, and I searched in myself for the critical points in my powers of attention.
Paul Valéry
Evolutionary psychology was the organizing framework-the source of "explanatory adequacy” or a "theory of the computation”-that the science of psychology had been missing. Like vision and language, our emotions and cognitive faculties are complex, useful, and nonrandomly organized, which means that they must be a product of the only physical process capable of generating complex, useful, nonrandom organization, namely, natural selection. An appeal to evolution was already implicit in the metatheoretical directives of Marr and Chomsky, with their appeal to the function of a mental faculty, and evolutionary psychology simply shows how to apply that logic to the rest of the mind.
Steven Pinker
You obviously never saw Wilt Chamberlain play who undoubtedly was the greatest scorer this game has ever known. When did MJ ever average 50.4 points per game plus 25.7 rebounds? (Wilt in the 1962 season when blocked shot statistics were not kept). We will never accurately know how many shots Wilt blocked. Oh, by the way in 1967 and 68, Wilt was a league leader in assists. Did MJ ever score 100 points in a game? How many times did MJ score more than 60 points in a game? MJ led the league in scoring in consecutive seasons for 10 years but he did this in an NBA that eventually expanded into 30 teams vs. when Wilt played and there were only 8 teams.
Wilt Chamberlain
Market power and externalities are examples of a general phenomenon called market failure-the inability of some unregulated markets to allocate resources efficiently. When markets fail, public policy can potentially remedy the problem and increase economic efficiency. Microeconomists devote much effort to studying when market failure is likely and what sorts of policies are best at correcting market failures. As you continue your study of economics, you will see that the tools of welfare economics developed here are readily adapted to that endeavor. Despite the possibility of market failure, the invisible hand of the marketplace is extraordinarily important.
Greg Mankiw