Friday, December 13, 2013

Creativity quote of the day: a simple good idea beaten to death.

A couple of quotes from Eugene Fama's Nobel Prize lecture:

- That's characteristic of everything I do: It's obvious on hindsight, but it was not obvious before the fact.

- When I come up with a [good] idea I beat it to death.

- The cute little insight we had was that if you want to aggregate this information across all of the stock experiencing splits [processes under investigation] you change the way you measure time. You measure time relative to the event.

The last point is similar to the approach of another Nobel Laureate, psychologist Daniel Kahneman, who emphasizes the deliberate, systematic nature of creative thinking.

tags: creativity, quote, system, psychology

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