Samuelson spotted a mistake in Bacheliers work. Bachelier's model had failed to consider that stock prices cannot fall below zero.

In real conversations, we are always trying to outguess each other.

At a bare minimum, understanding entails being able to detect an internal contradiction: a paradox.

Expectation is a statistical fiction, like having 2.5 children.

The assumption that anything true is knowable is the grandfather of paradoxes.

Bernoulli's real contribution was to coin a word. The word has been translated into English as "utility". It describes this subjective value people place on money.

Are there any mythical beasts which aren't simple pastiches of nature? Centaurs, minotaurs, unicorns, griffons, chimeras, sphinxes, manticores, and the like don't speak well for the human imagination. None is as novel as a kangaroo or starfish.