Optimization Quotes
Not only is it possible to devise complete models of the economy on hypotheses other than rationality, but in fact virtually every practical theory of macroeconomics is partly so based. The price- and wage- rigidity elements of Keynesian theory are hard to fit into a rational framework, though some valiant efforts have been made. ... But if the Keynesian model is a natural target of criticism by the upholders of universal rationality, it must be added that monetarism is no better. I know of no serious derivation of the demand for money from a rational optimization. ... The use of rationality in these arguments is ritualistic, not essential.
Kenneth Arrow
A social system consists in a plurality of individual actors interacting with each other in a situation which has at least a physical or environmental aspect, actors who are motivated in terms of a tendency to the "optimization of gratification" and whose relation to their situations, including each other, is defined and mediated in terms of a system of culturally structured and shared symbols.
Talcott Parsons
The spontaneous individual optimization that drives the theories with which I began is important, but it is not enough by itself. If spontaneous Coase‐style bargains, whether through laissez-faire or political bargaining and government, eliminated socially wasteful predation and obtained the institutions that are needed for a thriving market economy, then there would not be so many grossly inefficient and poverty-stricken societies.
Mancur Olson
If you have a business website; make it stickier; redo the merchandising often and try new things until you hit the right homepage...then try and beat that. The most important audience drivers on the internet are paid search and key word optimization. Concentrate on those. They are very inexpensive compared to banner advertising.
Lynda Resnick
Hard systems viewpoints are basically those held by designers and engineers who are trying to create systems to meet an understood need in an effective and economic manner. Those in the soft camp caricature the approach as head-down, concerned with optimization, obsessed with quantitative metrics and highly pragmatic. So much so, in fact, that the term system thinking has been purloined by the soft camp as though they alone thought! The soft camp use the term engineer's philosophy, not too endearingly, to describe the hard approach, in which the requirement is stated by a customer and the engineer satisfies the requirement without question.
Derek Hitchins
