Against the gods chapter 9 summary

Don't forget the lessons you've learned! Deuteronomy 8 1 All the commandments which I command thee this day shall ye observe to do, that ye may live, and multiply, and go in and possess the land which the LORD sware unto your fathers.

Against the gods chapter 9 summary

Against the gods chapter 9 summary

The only example of actuarial science Bernstein used was from the 18 century. They agree to continue until one has won six rounds.

The game atually stops when A has won five and B three. How should the stakes be divided? The Remarkable Story of Risk" traces not only their relationship, but th "A and B are playing a fair game of balla. The book follows the development of modern elementary mathematics, probability, distribution, risk management, game theory, human behaviour and ends with an overview of the role of risk in financial instruments.

First, the book provides a complete overview of the historical role of gambling and the development of the numerical system used today by Hindu-Arabic thinkers and Fibonacci.

Third, the role of the normal distribution, variance and regression to the mean is introduced through the works of Moivre, Bayes, Gauss, Laplace, Galton, Quetlet and Cornot while Bernoulli, Bentham, Jevons introduce the importance of utility.

Fourth, the role of modern risk management in portfolios is introduced through variance and diversification by the works of Bachelier and Markowitz whilst Thaler, Kanheman and Tversky introduce the role of realistic human behaviour against the assumption of human rationality.


Finally, the role of modern financial instruments is introduced through the creation of the Black-Scholes option pricing formula and the role of derivatives in both reducing and exacerbating risk. Bernstein provides a lively account of the mathematical history of probability and risk which puts the advances of modern mathematics in perspective, but disappointingly fails to really emphasize the significance of their discoveries.

Bernstein has a similar writing style of Robert Heilbroner in the Wordly Philosophers and Bill Bryson in A short History of Nearly Everything with an ability to not only convey the significance of complex ideas, but to explore the humanity of those behind them in the context of their time and place in history.

However, the book fails to explain the significance of these discoveries- only briefly mentioning their significance in financial markets through the development of portfolio diversification and the rise of derivatives.

What about the use of statistics and probability in Medicine, Biology, Physics and other scientific fields let alone the inclusion of statistics in a plethora of aspects of everyday life?

Regardless, open a college textbook on statistics after reading "Against the Gods" and Bernstein injects a breath of fresh air, placing the formulas taken for granted into the context of four centuries of mathematical thought.In Which Tertullian Pursues His Argument.

Jesus is the Christ of the Creator. He Derives His Proofs from St. Luke's Gospel; That Being the Only Historical Portion of . Read Against the Gods all chapters online for free. Lightweight and mobile compatible. Against the Gods Spoilers Feel free to discuss spoiler-related info for ATG here! Please use the [spoiler] [/spoiler] tags and avoid having spoilers in the title!

Against the Gods: The Remarkable Story of Risk [Peter L. Bernstein] Bernstein makes a break as he begins chapter 9, stating "up to this point, our story has been pretty much about numbers." This is true – mathematics, and the interesting mathematicians that develop them.

The second half of the book concerns the more modern authors, and it /5(). Expository Thoughts on the Gospels by J.C.

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Against the gods chapter 9 summary

The existence of God is a subject of debate in the philosophy of religion and popular culture.. A wide variety of arguments for and against the existence of God can be categorized as metaphysical, logical, empirical, or philosophical terms, the question of the existence of God involves the disciplines of epistemology (the nature and scope of knowledge) and ontology (study of the.

The Gods Will Have Blood: - Chapter 9 Summary & Analysis