William Stanley Jevons - Theory Quotes

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A little experience is worth much argument; a few facts are better than any theory.

William Stanley Jevons

A correct theory is the first step towards improvement, by showing what we need and what we might accomplish.

William Stanley Jevons

I am convinced that it is impossible to expound the methods of induction in a sound manner, without resting them upon the theory of probability. Perfect knowledge alone can give certainty, and in nature perfect knowledge would be infinite knowledge, which is clearly beyond our capacities. We have, therefore, to content ourselves with partial knowledge-knowledge mingled with ignorance, producing doubt.

William Stanley Jevons

The theory which follows is entirely based on a calculus of pleasure and pain; and the object of economics is to maximize happiness by purchasing pleasure, as it were, at the lowest cost of pain.

William Stanley Jevons

Previous to the time of Pascal, who would have thought of measuring doubt and belief? Who could have conceived that the investigation of petty games of chance would have led to the most sublime branch of mathematical science - the theory of probabilities?

William Stanley Jevons

Economists can never be free of from difficulties unless they will distinguish between a theory and the application of a theory.

William Stanley Jevons