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The Theory Of Gambling And Statistical Logic

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The Theory of Gambling and Statistical Logic Revised Edition

The Theory of Gambling and Statistical Logic  Revised Edition Book
Author : Richard A. Epstein
Publisher : Gulf Professional Publishing
Release : 2014-06-28
ISBN : 0080571840
Language : En, Es, Fr & De

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Book Description :

[Man] invented a concept that has since been variously viewed as a vice, a crime, a business, a pleasure, a type of magic, a disease, a folly, a weakness, a form of sexual substitution, an expression of the human instinct. He invented gambling. Richard Epstein's classic book on gambling and its mathematical analysis covers the full range of games from penny matching, to blackjack and other casino games, to the stock market (including Black-Scholes analysis). He even considers what light statistical inference can shed on the study of paranormal phenomena. Epstein is witty and insightful, a pleasure to dip into and read and rewarding to study.

The Theory of Gambling and Statistical Logic

The Theory of Gambling and Statistical Logic Book
Author : Richard A. Epstein
Publisher : Academic Press
Release : 2009-09-28
ISBN : 9780080958613
Language : En, Es, Fr & De

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Book Description :

Early in his rise to enlightenment, man invented a concept that has since been variously viewed as a vice, a crime, a business, a pleasure, a type of magic, a disease, a folly, a weakness, a form of sexual substitution, an expression of the human instinct. He invented gambling. Recent advances in the field, particularly Parrondo's paradox, have triggered a surge of interest in the statistical and mathematical theory behind gambling. This interest was acknowledge in the motion picture, "21," inspired by the true story of the MIT students who mastered the art of card counting to reap millions from the Vegas casinos. Richard Epstein's classic book on gambling and its mathematical analysis covers the full range of games from penny matching to blackjack, from Tic-Tac-Toe to the stock market (including Edward Thorp's warrant-hedging analysis). He even considers whether statistical inference can shed light on the study of paranormal phenomena. Epstein is witty and insightful, a pleasure to dip into and read and rewarding to study. The book is written at a fairly sophisticated mathematical level; this is not "Gambling for Dummies" or "How To Beat The Odds Without Really Trying." A background in upper-level undergraduate mathematics is helpful for understanding this work. o Comprehensive and exciting analysis of all major casino games and variants o Covers a wide range of interesting topics not covered in other books on the subject o Depth and breadth of its material is unique compared to other books of this nature Richard Epstein's website: www.gamblingtheory.net

The theory of gambling and statistical logic

The theory of gambling and statistical logic Book
Author : Richard A. Epstein
Publisher : Unknown
Release : 2009
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download The theory of gambling and statistical logic book written by Richard A. Epstein, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

The Theory of Gambling and Statistical Logic

The Theory of Gambling and Statistical Logic Book
Author : Anonim
Publisher : Unknown
Release : 1967
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download The Theory of Gambling and Statistical Logic book written by , available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

The Theory of Gambling and Statistical Logic

The Theory of Gambling and Statistical Logic Book
Author : Richard A. Epstein (wiskundige.)
Publisher : Unknown
Release : 1969
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download The Theory of Gambling and Statistical Logic book written by Richard A. Epstein (wiskundige.), available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Rules of Play

Rules of Play Book
Author : Katie Salen Tekinbas,Eric Zimmerman
Publisher : MIT Press
Release : 2003-09-25
ISBN : 9780262240451
Language : En, Es, Fr & De

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Book Description :

An impassioned look at games and game design that offers the most ambitious framework for understanding them to date. As pop culture, games are as important as film or television—but game design has yet to develop a theoretical framework or critical vocabulary. In Rules of Play Katie Salen and Eric Zimmerman present a much-needed primer for this emerging field. They offer a unified model for looking at all kinds of games, from board games and sports to computer and video games. As active participants in game culture, the authors have written Rules of Play as a catalyst for innovation, filled with new concepts, strategies, and methodologies for creating and understanding games. Building an aesthetics of interactive systems, Salen and Zimmerman define core concepts like "play," "design," and "interactivity." They look at games through a series of eighteen "game design schemas," or conceptual frameworks, including games as systems of emergence and information, as contexts for social play, as a storytelling medium, and as sites of cultural resistance. Written for game scholars, game developers, and interactive designers, Rules of Play is a textbook, reference book, and theoretical guide. It is the first comprehensive attempt to establish a solid theoretical framework for the emerging discipline of game design.

The Doctrine of Chances

The Doctrine of Chances Book
Author : Stewart N. Ethier
Publisher : Springer Science & Business Media
Release : 2010-05-19
ISBN : 3540787836
Language : En, Es, Fr & De

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Book Description :

Three centuries ago Montmort and De Moivre published two books on probability theory emphasizing its most important application at that time, games of chance. This book, on the probabilistic aspects of gambling, is a modern version of those classics.

Luck Logic and White Lies

Luck  Logic  and White Lies Book
Author : Jörg Bewersdorff
Publisher : CRC Press
Release : 2021-04-28
ISBN : 1000372073
Language : En, Es, Fr & De

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Book Description :

Praise for the First Edition "Luck, Logic, and White Lies teaches readers of all backgrounds about the insight mathematical knowledge can bring and is highly recommended reading among avid game players, both to better understand the game itself and to improve one’s skills." – Midwest Book Review "The best book I've found for someone new to game math is Luck, Logic and White Lies by Jörg Bewersdorff. It introduces the reader to a vast mathematical literature, and does so in an enormously clear manner. . ." – Alfred Wallace, Musings, Ramblings, and Things Left Unsaid "The aim is to introduce the mathematics that will allow analysis of the problem or game. This is done in gentle stages, from chapter to chapter, so as to reach as broad an audience as possible . . . Anyone who likes games and has a taste for analytical thinking will enjoy this book." – Peter Fillmore, CMS Notes Luck, Logic, and White Lies: The Mathematics of Games, Second Edition considers a specific problem—generally a game or game fragment and introduces the related mathematical methods. It contains a section on the historical development of the theories of games of chance, and combinatorial and strategic games. This new edition features new and much refreshed chapters, including an all-new Part IV on the problem of how to measure skill in games. Readers are also introduced to new references and techniques developed since the previous edition. Features Provides a uniquely historical perspective on the mathematical underpinnings of a comprehensive list of games Suitable for a broad audience of differing mathematical levels. Anyone with a passion for games, game theory, and mathematics will enjoy this book, whether they be students, academics, or game enthusiasts Covers a wide selection of topics at a level that can be appreciated on a historical, recreational, and mathematical level. Jörg Bewersdorff (1958) studied mathematics from 1975 to 1982 at the University of Bonn and earned his PhD in 1985. In the same year, he started his career as game developer and mathematician. He served as the general manager of the subsidiaries of Gauselmann AG for more than two decades where he developed electronic gaming machines, automatic payment machines, and coin-operated Internet terminals. Dr. Bewersdorff has authored several books on Galois theory (translated in English and Korean), mathematical statistics, and object-oriented programming with JavaScript.

Basic Gambling Mathematics

Basic Gambling Mathematics Book
Author : Mark Bollman
Publisher : CRC Press
Release : 2014-06-13
ISBN : 1482208938
Language : En, Es, Fr & De

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Book Description :

Understand the Math Underlying Some of Your Favorite Gambling Games Basic Gambling Mathematics: The Numbers Behind the Neon explains the mathematics involved in analyzing games of chance, including casino games, horse racing, and lotteries. The book helps readers understand the mathematical reasons why some gambling games are better for the player than others. It is also suitable as a textbook for an introductory course on probability. Along with discussing the mathematics of well-known casino games, the author examines game variations that have been proposed or used in actual casinos. Numerous examples illustrate the mathematical ideas in a range of casino games while end-of-chapter exercises go beyond routine calculations to give readers hands-on experience with casino-related computations. The book begins with a brief historical introduction and mathematical preliminaries before developing the essential results and applications of elementary probability, including the important idea of mathematical expectation. The author then addresses probability questions arising from a variety of games, including roulette, craps, baccarat, blackjack, Caribbean stud poker, Royal Roulette, and sic bo. The final chapter explores the mathematics behind "get rich quick" schemes, such as the martingale and the Iron Cross, and shows how simple mathematics uncovers the flaws in these systems.

Risk and Reward

Risk and Reward Book
Author : N. Richard Werthamer
Publisher : Springer
Release : 2018-07-20
ISBN : 3319913859
Language : En, Es, Fr & De

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Book Description :

For decades, casino gaming has been steadily increasing in popularity worldwide. Blackjack is among the most popular of the casino table games, one where astute choices of playing strategy can create an advantage for the player. RISK AND REWARD analyzes the game in depth, pinpointing not just its optimal strategies but also its financial performance, in terms of both expected cash flow and associated risk. The book begins by describing the strategies and their performance in a clear, straightforward style. The presentation is self-contained, non-mathematical, and accessible to readers at all levels of playing skill, from the novice to the blackjack expert. Careful attention is also given to simplified, but still nearly optimal strategies that are easier to use in a casino. Unlike other books in the literature the author then derives each aspect of the strategy mathematically, to justify its claim to optimality. The derivations mostly use algebra and calculus, although some require more advanced analysis detailed in supporting appendices. For easy comprehension, formulae are translated into tables and graphs through extensive computation. This book will appeal to everyone interested in blackjack: those with mathematical training intrigued by its application to this popular game as well as all players seeking to improve their performance.

Human Information Processing

Human Information Processing Book
Author : Peter H. Lindsay,Donald A. Norman
Publisher : Academic Press
Release : 2013-10-22
ISBN : 1483258238
Language : En, Es, Fr & De

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Book Description :

Human Information Processing: An Introduction to Psychology, Second Edition, was written to reflect recent developments, as well as anticipate new directions, in this flourishing field. The ideas of human information processing are relevant to all human activities, most especially those of human interactions. The book discusses all the traditional areas and then goes beyond: consciousness, states of awareness, multiple levels of processing (and of awareness), interpersonal communication, emotion, and stress. The book begins with an introduction to some of the more interesting phenomena of perception and poses some of the puzzles faced by those who would attempt to unravel the structures. Separate chapters cover the systems of most interest for human communication: the visual system and the auditory system; the structure of the nervous system; and the systems of memory: sensory information storage, short-term memory, and long-term memory. Subsequent chapters deal with the different aspects of memory, including show how memory is used in thought, in language, and in decision making. Also examined are the neurological basis of memory and the representation of knowledge within memory.

Bread and Respect

Bread and Respect Book
Author : Margavio, A. V.,Jerome Salomone
Publisher : Pelican Publishing
Release : 2014-01-22
ISBN : 9781455601509
Language : En, Es, Fr & De

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Book Description :

Approximately 70,000 Italian immigrants arrived in the Port of New Orleans between 1898 and 1929. They brought with them a yearning, a hunger for the things they valued: bread, respect, fortune, security, beauty, justice, and drama. Impoverished conditions in Sicily lead its people to respond to Louisiana plantersï¿1/2 pleas for workers, and the transported Sicilians were then able start new lives, rising quickly to become leaders in their communities. This is bread. There were few opportunities for land ownership in Sicily and overcrowding in the urban slums into which immigrants in other parts of the country came. In Louisiana, these immigrants largely settled in rural areas, and before long, Italian Americans became the "food kingpins" of the state. This is respect. Together, they form the basis of this history of interwoven influences, clashes between the old world and the new, and that which makes America the great nation it is: the longing of its citizens to be independent. Using vignettes, family histories, and census as well as other historical records, A. V. Margavio and Jerome J. Salomone examine how Italian culture shaped the lives of the immigrants to Louisiana and, in turn, how experiences in Louisiana modified the Old World values and culture the Italians brought with them. There are hundreds of thousands of Italian Americans living in Louisiana today. A. V. Margavio is a professor of sociology at the University of New Orleans. Jerome J. Salomone is a professor of sociology and scholar in residence at Southeastern Louisiana University.

Multivariate Normal Distribution The Theory And Applications

Multivariate Normal Distribution  The  Theory And Applications Book
Author : Thu Pham-gia
Publisher : World Scientific
Release : 2021-05-05
ISBN : 9811235309
Language : En, Es, Fr & De

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Book Description :

This book provides the reader with user-friendly applications of normal distribution. In several variables it is called the multinormal distribution which is often handled using matrices for convenience. The author seeks to make the arguments less abstract and hence, starts with the univariate case and moves progressively toward the vector and matrix cases. The approach used in the book is a gradual one, going from one scalar variable to a vector variable and to a matrix variable. The author presents the unified aspect of normal distribution, as well as addresses several other issues, including random matrix theory in physics. Other well-known applications, such as Herrnstein and Murray's argument that human intelligence is substantially influenced by both inherited and environmental factors, will be discussed in this book. It is a better predictor of many personal dynamics — including financial income, job performance, birth out of wedlock, and involvement in crime — than are an individual's parental socioeconomic status, or education level, and deserve to be mentioned and discussed.

The Perfect Bet

The Perfect Bet Book
Author : Adam Kucharski
Publisher : Profile Books
Release : 2016-05-05
ISBN : 178283205X
Language : En, Es, Fr & De

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Book Description :

Gamblers have been trying to figure out how to game the system since our ancestors first made wagers over dice fashioned from knucklebones: in revolutionary Paris, the 'martingale' strategy was rumoured to lead to foolproof success at roulette ; today, professional gamblers are using cutting-edge techniques to tilt the odds in their favour. Science is giving us the competitive edge over opponents, casinos and bookmakers. But is there such a thing as a perfect bet? The Perfect Bet looks beyond probability and statistics to examine how wagers have inspired a plethora of new disciplines - spanning chaos theory, machine learning and game theory - which are not just revolutionising gambling, but changing our fundamental notions about chance, randomness and luck. Explaining why poker is gaming's last bastion of human superiority over AI, how methods originally developed for the US nuclear programme are helping pundits predict sports results and why a new breed of algorithms are losing banks millions, The Perfect Bet has the inside track on any wager you'd care to place.

Statistics for Engineering and the Sciences

Statistics for Engineering and the Sciences Book
Author : William M. Mendenhall,Terry L. Sincich
Publisher : CRC Press
Release : 2016-04-05
ISBN : 1498728871
Language : En, Es, Fr & De

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Book Description :

Prepare Your Students for Statistical Work in the Real WorldStatistics for Engineering and the Sciences, Sixth Edition is designed for a two-semester introductory course on statistics for students majoring in engineering or any of the physical sciences. This popular text continues to teach students the basic concepts of data description and statist

Fundamental Statistical Inference

Fundamental Statistical Inference Book
Author : Marc S. Paolella
Publisher : John Wiley & Sons
Release : 2018-09-04
ISBN : 1119417864
Language : En, Es, Fr & De

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Book Description :

A hands-on approach to statistical inference that addresses the latest developments in this ever-growing field This clear and accessible book for beginning graduate students offers a practical and detailed approach to the field of statistical inference, providing complete derivations of results, discussions, and MATLAB programs for computation. It emphasizes details of the relevance of the material, intuition, and discussions with a view towards very modern statistical inference. In addition to classic subjects associated with mathematical statistics, topics include an intuitive presentation of the (single and double) bootstrap for confidence interval calculations, shrinkage estimation, tail (maximal moment) estimation, and a variety of methods of point estimation besides maximum likelihood, including use of characteristic functions, and indirect inference. Practical examples of all methods are given. Estimation issues associated with the discrete mixtures of normal distribution, and their solutions, are developed in detail. Much emphasis throughout is on non-Gaussian distributions, including details on working with the stable Paretian distribution and fast calculation of the noncentral Student's t. An entire chapter is dedicated to optimization, including development of Hessian-based methods, as well as heuristic/genetic algorithms that do not require continuity, with MATLAB codes provided. The book includes both theory and nontechnical discussions, along with a substantial reference to the literature, with an emphasis on alternative, more modern approaches. The recent literature on the misuse of hypothesis testing and p-values for model selection is discussed, and emphasis is given to alternative model selection methods, though hypothesis testing of distributional assumptions is covered in detail, notably for the normal distribution. Presented in three parts—Essential Concepts in Statistics; Further Fundamental Concepts in Statistics; and Additional Topics—Fundamental Statistical Inference: A Computational Approach offers comprehensive chapters on: Introducing Point and Interval Estimation; Goodness of Fit and Hypothesis Testing; Likelihood; Numerical Optimization; Methods of Point Estimation; Q-Q Plots and Distribution Testing; Unbiased Point Estimation and Bias Reduction; Analytic Interval Estimation; Inference in a Heavy-Tailed Context; The Method of Indirect Inference; and, as an appendix, A Review of Fundamental Concepts in Probability Theory, the latter to keep the book self-contained, and giving material on some advanced subjects such as saddlepoint approximations, expected shortfall in finance, calculation with the stable Paretian distribution, and convergence theorems and proofs.

The Kelly Capital Growth Investment Criterion

The Kelly Capital Growth Investment Criterion Book
Author : Edward O Thorp,Leonard C MacLean,William T Ziemba
Publisher : World Scientific
Release : 2011-02-10
ISBN : 981446581X
Language : En, Es, Fr & De

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Book Description :

This volume provides the definitive treatment of fortune's formula or the Kelly capital growth criterion as it is often called. The strategy is to maximize long run wealth of the investor by maximizing the period by period expected utility of wealth with a logarithmic utility function. Mathematical theorems show that only the log utility function maximizes asymptotic long run wealth and minimizes the expected time to arbitrary large goals. In general, the strategy is risky in the short term but as the number of bets increase, the Kelly bettor's wealth tends to be much larger than those with essentially different strategies. So most of the time, the Kelly bettor will have much more wealth than these other bettors but the Kelly strategy can lead to considerable losses a small percent of the time. There are ways to reduce this risk at the cost of lower expected final wealth using fractional Kelly strategies that blend the Kelly suggested wager with cash. The various classic reprinted papers and the new ones written specifically for this volume cover various aspects of the theory and practice of dynamic investing. Good and bad properties are discussed, as are fixed-mix and volatility induced growth strategies. The relationships with utility theory and the use of these ideas by great investors are featured.Contents: "The Early Ideas and Contributions: "Introduction to the Early Ideas and ContributionsExposition of a New Theory on the Measurement of Risk (translated by Louise Sommer) "(D Bernoulli)"A New Interpretation of Information Rate "(J R Kelly, Jr)"Criteria for Choice among Risky Ventures "(H A Latan‚)"Optimal Gambling Systems for Favorable Games "(L Breiman)"Optimal Gambling Systems for Favorable Games "(E O Thorp)"Portfolio Choice and the Kelly Criterion "(E O Thorp)"Optimal Investment and Consumption Strategies under Risk for a Class of Utility Functions "(N H Hakansson)"On Optimal Myopic Portfolio Policies, with and without Serial Correlation of Yields "(N H Hakansson)"Evidence on the ?Growth-Optimum-Model? "(R Roll)""Classic Papers and Theories: "Introduction to the Classic Papers and TheoriesCompetitive Optimality of Logarithmic Investment "(R M Bell and T M Cover)"A Bound on the Financial Value of Information "(A R Barron and T M Cover)"Asymptotic Optimality and Asymptotic Equipartition Properties of Log-Optimum Investment "(P H Algoet and T M Cover)"Universal Portfolios "(T M Cover)"The Cost of Achieving the Best Portfolio in Hindsight "(E Ordentlich and T M Cover)"Optimal Strategies for Repeated Games "(M Finkelstein and R Whitley)"The Effect of Errors in Means, Variances and Co-Variances on Optimal Portfolio Choice "(V K Chopra and W T Ziemba)"Time to Wealth Goals in Capital Accumulation "(L C MacLean, W T Ziemba, and Y Li)"Survival and Evolutionary Stability of Rule the Kelly "(I V Evstigneev, T Hens, and K R Schenk-Hopp‚)"Application of the Kelly Criterion to Ornstein-Uhlenbeck Processes "(Y Lv and B K Meister)""The Relationship of Kelly Optimization to Asset Allocation: "Introduction to the Relationship of Kelly Optimization to Asset AllocationSurvival and Growth with a Liability: Optimal Portfolio Strategies in Continuous Time "(S Browne)"Growth versus Security in Dynamic Investment Analysis "(L C MacLean, W T Ziemba, and G Blazenko)"Capital Growth with Security "(L C MacLean, R Sanegre, Y Zhao, and W T Ziemba)"

Statistical Thought

Statistical Thought Book
Author : Shoutir Kishore Chatterjee
Publisher : Oxford University Press on Demand
Release : 2003
ISBN : 9780198525318
Language : En, Es, Fr & De

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Book Description :

In this unique monograph based on years of extensive work, Chatterjee presents the historical evolution of statistical thought from the perspective of various approaches to statistical induction. Developments in statistical concepts and theories are discussed alongside philosophical ideas on the ways we learn from experience.

The Mathematics of Games and Gambling

The Mathematics of Games and Gambling Book
Author : Edward Packel
Publisher : American Mathematical Society
Release : 2022-01-19
ISBN : 147046862X
Language : En, Es, Fr & De

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Book Description :

The first edition of this book was reprinted eight times. This book introduces and develops some of the important and beautiful elementary mathematics needed for rational analysis of various gambling and game activities. Most of the standard casino games (roulette, blackjack, keno), some social games (backgammon, poker, bridge) and various other activities (state lotteries, horse racing, etc.) are treated in ways that bring out their mathematical aspects. The mathematics developed ranges from the predictable concepts of probability, expectation, and binomial coefficients to some less well-known ideas of elementary game theory. The second edition includes new material on: sports betting and the mathematics behind it; Game theory applied to bluffing in poker and related to the Texas Holdem phenomenon; The Nash equilibrium concept and its emergence in the popular culture; Internet links to games and to Java applets for practice and classroom use. The only formal mathematics background the reader needs is some facility with high school algebra. Game-related exercises are included at the end of most chapters for readers interested in working with and expanding ideas treated in the text. Solutions to some of the exercises appear at the end of the book.