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Updated: June 11, 2025
To study physiology with a clear conscience, one must insist on the fact that the sense-organs are not phenomena in the sense of the idealistic philosophy; as such they certainly could not be causes! Sensualism, therefore, at least as regulative hypothesis, if not as heuristic principle. What? And others say even that the external world is the work of our organs?
Black-Scholes tackles stochastic volatility poorly. The formula also unrealistically assumes that the market dickers continuously, ignoring transaction costs and institutional constraints. No wonder that traders use Black-Scholes as a heuristic rather than a price-setting formula. Volatility also decreases in administered markets and over different spans of time.
In this mode of viewing them, both principles, in their purely heuristic and regulative character, and as concerning merely the formal interest of reason, are quite consistent with each other.
Firstly, the difficulties of Heuristic being insurmountable, the earliest scholars and historians employing, as they did, not all the documents, nor the best documents, but those documents on which they could lay their hands were nearly always ill-informed; and their works are now without interest except so far as they are founded on documents which have since been lost.
Then, as reason seeks the condition for each conditioned moment, and always commands a further advance in the series of conditions, it acts under the Idea of the totality of conditions, which, nevertheless, since it can never be given in experience, does not denote an object, but only an heuristic maxim for knowledge, the maxim, namely, never to stop with any one condition as ultimate, but always to continue the search further.
He went down to see him before he returned to India. But if there was a hidden well of feeling in Mr. Benham senior, it had been very carefully boarded over. The parental mind and attention were entirely engaged in a dispute in the SCHOOL WORLD about the heuristic method. Somebody had been disrespectful to Martindale House and the thing was rankling almost unendurably.
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