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Updated: June 26, 2025
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.
They walked about the studio, talking of the bas-relief as seen from different points; of how it was to be cut for firing; and on the safe ground of art they forgot all personal constraints, until the striking of a clock aroused Fenton to a sense of the flight of time. "I must go," he said. "I am no end glad I came.
It is not improbable that his mind was already tainted with a certain insanity . And it is a curious physiological fact, that the unnatural constraints of Sparta, when acting on strong passions and fervent imaginations, seem, not unoften, to have produced a species of madness.
Such is the behaviour of the base populace so soon as imprudent hands have broken the network of constraints which binds its ancestral savagery. It meets with every indulgence because it is in the interests of the politicians to flatter it. But let us for a moment suppose the thousands of beings who constitute it condensed into one single being.
You have complimented me on my beauty; I congratulate you upon yours, and I am surprised that you have so kept and preserved it in the midst of the constraints and servitude that grandeur and greatness involve. MADAME DE MAINTENON. At the commencement, I argued as you argue, and believed that I should never get to the year's end without disgust.
Nearly all the revolutionaries count on escaping the constraints they impose, and who only like the strait jacket when it is on another's back. The influence of resistant wills at this moment becomes incalculable: it would be easier to raise a mountain, and, just at this moment, the Jacobins have deprived themselves of every moral force through which a political engineer acts on human wills.
Too civilised to possess those savage virtues which, such as they are, represent the quantum of innate good Nature has thought fit to allow in the mixture, Man; and too barbarous to be subject to the tenderer constraints of cultivated society, he is at once strong in the strength of both and weak in their weaknesses.
I see that you look askance at me, Sir Charles Tregellis, but you should pray to God, sir, that you may never have the chance of finding out what you would yourself be capable of in the same position." It was a wonder to all of us to see this man's fiery nature breaking suddenly through the artificial constraints with which he held it in check.
There, free from the strange constraints which our austere customs and solemn Deities impose upon the Greeks, the beneficent Ormuzd scatters ever-varying delights upon the paths of men. All that art can invent, all that the marts of the universe can afford of the rare and voluptuous, are lavished upon abodes the splendour of which even our idle dreams of Olympus never shadowed forth.
There is nothing in the writings of Augustine, not in this controversy, or any other controversy, to show that God delights in the miseries or the penalty which are indissolubly connected with sin; on the contrary, he blesses and adores the divine hand which releases men from the constraints which sin imposes. This divine interposition is wholly based on a divine and infinite love.
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