Why is the normal distribution not normal? - page 37
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Fair price is not a term, but a phrase, because there is no unambiguous definition.
Yeah. No definition. It's unambiguous. But the meaning is there. Meaningful. :)
Reshetov wrote (a) >>
Suppose I put a limit position of some asset to sell. Suppose someone accepted my order. Then my order is long and his is short. Suppose the price goes up. I am in profit and my partner is in loss. For me the price is fair, for him it's a clear injustice. And if the price goes down? And what kind of justice as a term can we talk about here, when this concept is strictly subjective and depends only on who opened the position and on what side of the deal?
"And only the sun equally illuminated the body of a young beauty and the corpse of a decaying dog....
- Is it fair?! - exclaimed the pompous ladies.
- Fair enough...! - answered the Sun. - It's my business to shine...".
--
Well etta... Jur..... Cut the crap already, eh.... You should write the multiplication table too. :)
Roughly speaking, stability is when the distribution of the sum of two independent equally distributed quantities (possibly with different parameters) has a distribution F too. Stable is normal (expectation and variance are summed), Cauchy, uniform and a bunch of others.
Don't think of it as rude and snobbish, but a uniform distribution is not stable - the sum of two forms a triangular distribution, and in the limit everything converges to a Gaussian
Yes, Alexei, very similar to the truth about the triangular. Thanks for the snobbery.
Don't think of it as rude and snobbish, but the uniform distribution is not stable - the sum of two forms a triangular, and in the limit everything converges to a Gaussian
I take it he meant uniform at infinity. It's purely theoretical. Then it doesn't seem to converge.
And uniform on the interval, of course...
FYI, Yuri, the term "fair price" is well-established in scientific and trading journals. So you're the one who needs to work out the terminology. And your sense of humour as well.
You see, the thing is, Benya, in real economics and jurisprudence there is NO such thing as a "fair price". There is a "bid price" (from the ceiling to Jupiter) and there is a "contract price" written down on paper.
I don't see what there is to be mush about. Charters are written in blood. The Civil Code, which describes all these concepts of price and contracts, is 1000+ pages long, with dozens of court precedents behind each one. Have you, young man, ever held it in your hands? If not, you can fantasise further about "fair prices". All the way up to Jupiter.
Here's the definition:
"Fair price" is the juvenile fantasy of an outsider who is not personally involved in the transaction.
Here's the definition:
"A fair price" is the juvenile fantasy of an outsider not personally involved in the transaction.
Ugh. Finally, a little constructive. :)
It's inspiring!
Allow me to be bold:
"A fair price" is the price to which the market would have come if it had resolved all the tensions and come to full agreement.
As you can see, it's a completely unrealistic situation. "If only... if only..." :) Worse than even imaginary numbers.
Do you want to kick it?
:)
Pynk
The price of the last deal is now full agreement
tensions and expectations are subjective, multidirectional and included in the last deal
You see, the thing is, Benya, in real economics and jurisprudence there is NO such thing as a "fair price". There is a "bid price" (from the ceiling to Jupiter) and there is a "contract price" written down on paper.
I don't see what there is to be mush about. Charters are written in blood. The Civil Code, which describes all these concepts of price and contracts, is 1000+ pages long, with dozens of legal precedents behind each one. Have you, young man, ever held it in your hands? If not, you can fantasise further about "fair prices". All the way up to Jupiter.
Here's the definition:
"Fair price" is the juvenile fantasy of an outsider who is not personally involved in the transaction.
Stop clinging to words, uncle. Grown-ups, but they really do some bullshit. I didn't invent the phrase "fair price". It occurs quite often in highly respected authors in both our and English-language literature. And to my snot-nosed youthful mind it is a very useful phrase. Despite the fact that it is only a youthful fantasy, it is successfully used by all kinds of "Simons" and "Soros" in the management of solid portfolios.
Anyway, you can go on with your bullshit, picking on words if you have nothing else to do. I've made my point. If anyone wants to, they will find something useful for themselves.
"A 'fair price' exists.
Pynk
The price of the last deal is now full consent
tensions and expectations are subjective, multidirectional and included in the last deal
:)
It's so idyllic... you just don't want to spoil it.
Sounds as good as Zeno's paradox.
Oh, poor Achilles can't catch the turtle. Well, he can't catch the turtle, that's all. Rigorously proven and cast in concrete.
I guess I'll have to put up with it. I give up, you win!
:) :)