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
[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 1989 Annual Meeting of the Society for Risk Analysis dramatically demonstrated one of the most important reasons for having the Society - to bring together people with highly diverse backgrounds and disciplines to assess the common problems of societal and individual risks. The physical scientists emphasized the analytical tools for assessing environmental effects and for modeling risks from engineered systems and other human activities. The health scientists presented numerous methods of analyzing health effects, including the subject of dose-response relationships, especially at low exposure levels - never an easy analysis. The social and political scientists concentrated on issues of risk perception, communication, acceptability, and human touch. Others discussed such issues as cost-benefit analysis and the risk-based approach to decision analysis. Use of risk assessment methods for risk management continued to be a matter of strong opinion and debate. The impacts of state and federal regulations, existing and planned, were assessed in sessions and in luncheon speeches. These impacts show that risk analysis practitioners will have an increasingly important role in the future. They will be challenged to provide clear, easily understood evaluations of risk that are responsive to society's concern for risk, as evidenced in laws and regulations. Of course, the various risk analysis specialties overlapped in domains of interest.
Translated from the fifth French edition of 1825 With Notes by the Translator
Author: Pierre-Simon Laplace
Publisher: Springer Science & Business Media
Pierre-Simon Laplace (1749-1827) is remembered amoung probabilitists today particularly for his "Theorie analytique des probabilites", published in 1812. This is a thorough and modern translation based on the recent re-issue, with its voluminous notes, of the fifth edition of 1826, with preface by Rene Thom and postscript by Bernard Bru. In the second part of the book, the reader is provided with an extensive commentary by the translator including valuable histographical and mathematical remarks and various proofs.
Doctor Who has always contained a rich current of religious themes and ideas. In its very first episode it asked how humans rationalize the seemingly supernatural, as two snooping schoolteachers refused to accept that the TARDIS was real. More recently it has toyed with the mystery of Doctor's real name, perhaps an echo of ancient religions and rituals in which knowledge of the secret name of a god, angel or demon was thought to grant a mortal power over the entity. But why does Doctor Who intersect with religion so often, and what do such instances tell us about the society that produces the show and the viewers who engage with it? The writers of Religion and Doctor Who: Time and Relative Dimensions in Faith attempt to answer these questions through an in-depth analysis of the various treatments of religion throughout every era of the show's history. While the majority of chapters focus on the television show Doctor Who, the authors also look at audios, novels, and the response of fandom. Their analyses--all written in an accessible but academically thorough style--reveal that examining religion in a long-running series such as Doctor Who can contribute to a number of key debates within faith communities and religious history. Most importantly, it provides another way of looking at why Doctor Who continues to inspire, to engage, and to excite generations of passionate fans, whatever their position on faith. The contributors are drawn from the UK, the USA, and Australia, and their approaches are similarly diverse. Chapters have been written by film scholars and sociologists; theologians and historians; rhetoricians, philosophers and anthropologists. Some write from the perspective of a particular faith or belief; others write from the perspective of no religious belief. All, however, demonstrate a solid knowledge of and affection for the brilliance of Doctor Who.
Your Hard-Headed, No B.S. Guide to Gaming Opportunities With a Long-Term, Mathematical, Positive Expectation
Author: Ward Wilson
This book is for you only if you gamble to make money. If your idea of "fun" and "entertainment" includes giving away your hard-earned money to casinos, I can't help you. If you enjoy sitting in a mindless, bright lights/dinging trance while you drop quarters down a slot, this book is not for you. If you think casinos are built and run by stupid people, you better stay out of them. If you think you can beat a blackjack dealer by wild-assed guessing, think again. If you play poker just because it's now so popular . . . you don't need my book. If you believe you can just happen to be "lucky" enough to beat the odds, you live in a fantasy world and you'd hate this book for destroying your illusions. But if you're hard-headed, serious, willing to work, and tired of the mainstream gambling books that simply teach you how to lose less rather than win . . . If you understand casinos don't stay in business by giving out more money than they take in . . . This is an extensive examination of the most popular forms of gambling. If you can find any positive expectation bets, and how. Some of the material is controversial. Some of it is unique. It's not for beginners. If you don't already know how to play blackjack or craps, buy and read the basic books first. This one assumes you know and understand the rules of play. If you have emotional or psychological issues around money -- my strong advice is, don't gamble. If you want to believe casinos are playgrounds built for your amusement, this is not the book for you. I use statistical concepts and common sense to strip away the bright lights and glamor to reveal the mathematical realities of gambling. For the most part, it's not pretty. Not if you want to make money instead of lose it. But there are opportunities there for people willing to work hard and understand the obstacles so they can surmount them. If you're still an emotional child needing the adrenaline rush and excitement of "winning" money, this is not for you. And not only the casinos want to take your money -- hordes of online scammers selling bogus systems online also are after the money belonging to would-be pro gamblers. Until you can enter a casino and remain blind to the red carpeting, the flashing lights, dinging slots and the entire aura of glamorous partying -- you'll remain a loser. If you have enough money to pay for a mirage, that's up to you. Most people don't.
Robert G. Hagstrom is one of the best-known authors of investment books for general audiences. Turning his extensive experience as a portfolio manager at Legg Mason Capital Management into valuable guidance for professionals and nonprofessionals alike, he is the author of six successful books on investment, including The Warren Buffett Way, a New York Times best-seller that has sold more than a million copies. In this updated second edition of Investing: The Last Liberal Art, Hagstrom explores basic and fundamental investing concepts in a range of fields outside of economics, including physics, biology, sociology, psychology, philosophy, and literature. He discusses, for instance, how the theory of evolution disrupts the notion of the efficient market and how reading strategies for literature can be gainfully applied to investing research. Building on Charlie Munger's famous "latticework of mental models" concept, Hagstrom argues that it is impossible to make good investment decisions based solely on a strong knowledge of finance theory alone. He reinforces his concepts with additional data and a new chapter on mathematics, and updates his text throughout to reflect the developments of the past decade, particularly the seismic economic upheaval of 2008. He has also added a hundred new titles to the invaluable reading list concluding the book. Praise for the first edition: "I read this book in one sitting: I could not put it down."—Peter L. Bernstein, author of Against the Gods: The Remarkable Story of Risk "Elegant and irresistible. Robert G. Hagstrom makes the complex clear as he confidently crisscrosses through the disciplines of finance, biology, physics, and literature. The only way to understand investing better, [Investing] shows, is to understand the world better. Ideas spark off the page at every turn. This is simply a gem of a book."—James Surowiecki, New Yorker "Investing is a brisk and engaging read, and it is a pleasure to be in the presence of Hagstrom's agile mind."—International Herald Tribune
Most of the 26 papers are research reports on probability, statistics, gambling, game theory, Markov decision processes, set theory, and logic. But they also include reviews on comparing experiments, games of timing, merging opinions, associated memory models, and SPLIF's; historical views of Carnap, von Mises, and the Berkeley Statistics Department; and a brief history, appreciation, and bibliography of Berkeley professor Blackwell. A sampling of titles turns up The Hamiltonian Cycle Problem and Singularly Perturbed Markov Decision Process, A Pathwise Approach to Dynkin Games, The Redistribution of Velocity: Collision and Transformations, Casino Winnings at Blackjack, and Randomness and the Foundations of Probability. No index. Annotation copyrighted by Book News, Inc., Portland, OR
Finding Financial Wisdom in Unconventional Places (Updated and Expanded)
Author: Michael J. Mauboussin
Publisher: Columbia University Press
Category: Business & Economics
Since its first publication, Michael J. Mauboussin's popular guide to wise investing has been translated into eight languages and has been named best business book by BusinessWeek and best economics book by Strategy+Business. Now updated to reflect current research and expanded to include new chapters on investment philosophy, psychology, and strategy and science as they pertain to money management, this volume is more than ever the best chance to know more than the average investor. Offering invaluable tools to better understand the concepts of choice and risk, More Than You Know is a unique blend of practical advice and sound theory, sampling from a wide variety of sources and disciplines. Mauboussin builds on the ideas of visionaries, including Warren Buffett and E. O. Wilson, but also finds wisdom in a broad and deep range of fields, such as casino gambling, horse racing, psychology, and evolutionary biology. He analyzes the strategies of poker experts David Sklansky and Puggy Pearson and pinpoints parallels between mate selection in guppies and stock market booms. For this edition, Mauboussin includes fresh thoughts on human cognition, management assessment, game theory, the role of intuition, and the mechanisms driving the market's mood swings, and explains what these topics tell us about smart investing. More Than You Know is written with the professional investor in mind but extends far beyond the world of economics and finance. Mauboussin groups his essays into four parts-Investment Philosophy, Psychology of Investing, Innovation and Competitive Strategy, and Science and Complexity Theory-and he includes substantial references for further reading. A true eye-opener, More Than You Know shows how a multidisciplinary approach that pays close attention to process and the psychology of decision making offers the best chance for long-term financial results.
Treasury of 100 brain-twisters includes board games, map games, word games, variations of chess and checker games, "life games," and scores of other recreations. For 80 problems, full solutions included. Remaining 20 unsolved will definitely challenge serious gamesters. 115 illus. Introduction.