The Kelly Capital Growth Investment Criterion

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Publisher : World Scientific
ISBN 13 : 9814293490
Total Pages : 883 pages
Book Rating : 4.8/5 (142 download)

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Book Synopsis The Kelly Capital Growth Investment Criterion by : Leonard C. MacLean

Download or read book The Kelly Capital Growth Investment Criterion written by Leonard C. MacLean and published by World Scientific. This book was released on 2011 with total page 883 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Doctrine of Chances

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Publisher : Springer Science & Business Media
ISBN 13 : 3540787836
Total Pages : 822 pages
Book Rating : 4.5/5 (47 download)

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Book Synopsis The Doctrine of Chances by : Stewart N. Ethier

Download or read book The Doctrine of Chances written by Stewart N. Ethier and published by Springer Science & Business Media. This book was released on 2010-05-19 with total page 822 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Mathematics of The Big Four Casino Table Games

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Publisher : CRC Press
ISBN 13 : 1000423840
Total Pages : 364 pages
Book Rating : 4.0/5 (4 download)

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Book Synopsis Mathematics of The Big Four Casino Table Games by : Mark Bollman

Download or read book Mathematics of The Big Four Casino Table Games written by Mark Bollman and published by CRC Press. This book was released on 2021-08-20 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mathematics is the basis of casino games, which are the bedrock of a $100 billion/year industry. Mathematics of the Big Four Casino Table Games: Blackjack, Baccarat, Craps, & Roulette takes an in-depth look at the four biggest table games in casinos: blackjack, baccarat, craps, and roulette. It guides readers through the mathematical principles that underpin these games and their different variations, providing insights that will be of huge interest to gamblers, casino managers, researchers, and students of mathematics. Features A valuable teaching resource, replete with exercises, for any course on gambling mathematics Suitable for a wide audience of professionals, researchers, and students Many practical applications for the gambling industry Mark Bollman is Professor of Mathematics and chair of the Department of Mathematics & Computer Science at Albion College in Albion, Michigan, and has taught 116 different courses in his career. Among these courses is "Mathematics of the Gaming Industry," where mathematics majors carefully study the math behind games of chance and travel to Las Vegas, Nevada, in order to compare theory and practice. He has also taken those ideas into Albion’s Honors Program in "Great Issues in Humanities: Perspectives on Gambling," which considers gambling from literary, philosophical, and historical points of view as well as mathematically. Mark has also authored Basic Gambling Mathematics: The Numbers Behind the Neon, Mathematics of Keno and Lotteries, and Mathematics of Casino Carnival Games.

Predictability of Gambling

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Publisher : SelMcKenzie Publishing
ISBN 13 :
Total Pages : 63 pages
Book Rating : 4./5 ( download)

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Book Synopsis Predictability of Gambling by :

Download or read book Predictability of Gambling written by and published by SelMcKenzie Publishing. This book was released on with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Winning Bet in Nevada Baccarat

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Publisher : Martino Fine Books
ISBN 13 : 9781614278474
Total Pages : 82 pages
Book Rating : 4.2/5 (784 download)

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Book Synopsis A Winning Bet in Nevada Baccarat by : Edward O. Thorp

Download or read book A Winning Bet in Nevada Baccarat written by Edward O. Thorp and published by Martino Fine Books. This book was released on 2015-07-17 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: 2015 Reprint of 1963 Edition. Full Facsimile of the original edition. Not reproduced with Optical Recognition Software. Co-written by the author of the "Beat the Dealer," this work provides a mathematically based model intended to improve the chances of winning not only in Baccarat, but in black jack and other games of chance. Language is quite technical, but parts are accessible to the average player and the theory informs all of Thorp's and Walden's more popular work. A scarce scholarly treatise on probability and its application to games of chance.

Basic Gambling Mathematics

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Publisher : CRC Press
ISBN 13 : 1482208946
Total Pages : 278 pages
Book Rating : 4.4/5 (822 download)

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Book Synopsis Basic Gambling Mathematics by : Mark Bollman

Download or read book Basic Gambling Mathematics written by Mark Bollman and published by CRC Press. This book was released on 2014-06-13 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

The Theory of Gambling and Statistical Logic

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Publisher : Academic Press
ISBN 13 : 012397870X
Total Pages : 466 pages
Book Rating : 4.1/5 (239 download)

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Book Synopsis The Theory of Gambling and Statistical Logic by : Richard A. Epstein

Download or read book The Theory of Gambling and Statistical Logic written by Richard A. Epstein and published by Academic Press. This book was released on 2012-12-28 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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. - Comprehensive and exciting analysis of all major casino games and variants - Covers a wide range of interesting topics not covered in other books on the subject - Depth and breadth of its material is unique compared to other books of this nature Richard Epstein's website: www.gamblingtheory.net

Gambling in America

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Publisher :
ISBN 13 :
Total Pages : 1430 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Gambling in America by : United States. Commission on the Review of the National Policy Toward Gambling

Download or read book Gambling in America written by United States. Commission on the Review of the National Policy Toward Gambling and published by . This book was released on 1976 with total page 1430 pages. Available in PDF, EPUB and Kindle. Book excerpt:

I Have a Photographic Memory

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Publisher : American Mathematical Soc.
ISBN 13 : 9780821886090
Total Pages : 348 pages
Book Rating : 4.8/5 (86 download)

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Book Synopsis I Have a Photographic Memory by : Paul R. Halmos

Download or read book I Have a Photographic Memory written by Paul R. Halmos and published by American Mathematical Soc.. This book was released on 1999-04-27 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Paul R. Halmos, eminent mathematician, is also a snapshot addict. For the past 45 years, Halmos has snapped mathematicians, their spouses, their brothers and sisters and other relatives, their offices, their dogs, and their carillon towers. From 6000 or so photographs in his collection, Halmos chose about 600 for this book. The pictures are candid shots showing mathematicians just being themselves, and the accompanying captions, in addition to identifying the subjects, contain anecdotes and bits of history that reveal Halmos' inimitable wit and insight.

NBS Special Publication

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Publisher :
ISBN 13 :
Total Pages : 574 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis NBS Special Publication by :

Download or read book NBS Special Publication written by and published by . This book was released on 1970 with total page 574 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Technical Abstract Bulletin

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Publisher :
ISBN 13 :
Total Pages : 628 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis Technical Abstract Bulletin by :

Download or read book Technical Abstract Bulletin written by and published by . This book was released on with total page 628 pages. Available in PDF, EPUB and Kindle. Book excerpt:

An Author and Permuted Title Index to Selected Statistical Journals

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Publisher :
ISBN 13 :
Total Pages : 512 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis An Author and Permuted Title Index to Selected Statistical Journals by : Brian L. Joiner

Download or read book An Author and Permuted Title Index to Selected Statistical Journals written by Brian L. Joiner and published by . This book was released on 1970 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt: All articles, notes, queries, corrigenda, and obituaries appearing in the following journals during the indicated years are indexed: Annals of mathematical statistics, 1961-1969; Biometrics, 1965-1969#3; Biometrics, 1951-1969; Journal of the American Statistical Association, 1956-1969; Journal of the Royal Statistical Society, Series B, 1954-1969,#2; South African statistical journal, 1967-1969,#2; Technometrics, 1959-1969.--p.iv.

Government-wide Index to Federal Research & Development Reports

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Publisher :
ISBN 13 :
Total Pages : 892 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Government-wide Index to Federal Research & Development Reports by :

Download or read book Government-wide Index to Federal Research & Development Reports written by and published by . This book was released on 1967 with total page 892 pages. Available in PDF, EPUB and Kindle. Book excerpt:

An Author and Permuted Title Index to Selected Statistical Journals

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Author :
Publisher :
ISBN 13 :
Total Pages : 520 pages
Book Rating : 4./5 ( download)

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Book Synopsis An Author and Permuted Title Index to Selected Statistical Journals by : Brian L. Joiner

Download or read book An Author and Permuted Title Index to Selected Statistical Journals written by Brian L. Joiner and published by . This book was released on 1970 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Dissertation Abstracts

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Publisher :
ISBN 13 :
Total Pages : 1366 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Dissertation Abstracts by :

Download or read book Dissertation Abstracts written by and published by . This book was released on 1964-09 with total page 1366 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The American Economic Review

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Publisher :
ISBN 13 :
Total Pages : 1074 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis The American Economic Review by :

Download or read book The American Economic Review written by and published by . This book was released on 1966 with total page 1074 pages. Available in PDF, EPUB and Kindle. Book excerpt: Includes annual List of doctoral dissertations in political economy in progress in American universities and colleges; and the Hand book of the American Economic Association.

Business Periodicals Index

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Publisher :
ISBN 13 :
Total Pages : 956 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Business Periodicals Index by :

Download or read book Business Periodicals Index written by and published by . This book was released on 1966 with total page 956 pages. Available in PDF, EPUB and Kindle. Book excerpt: