The Theory of Gambling and Statistical Logic - 2nd Edition

The Theory of Gambling and Statistical Logic

2nd Edition

Authors: Richard Epstein
Imprint: Academic Press
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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.

Key Features

  • 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

Readership

Suitable for those interested in probability, statistics, or gambling and gamblers with an interest in theory and analysis and a basic understanding of undergraduate mathematics.

Table of Contents

Dedication

Preface

Acknowledgments

Chapter One. Kubeiagenesis

References

Bibliography

Chapter Two. Mathematical Preliminaries

The Meaning of Probability

The Calculus of Probability

Statistics

Game Theory

Random Walks

Quantum Games

References

Bibliography

Chapter Three. Fundamental Principles of a Theory of Gambling

Decision Making and Utility

Prospect Theory

The Basic Theorems

References

Bibliography

Chapter Four. Parrondo’s Principle

The Basic Principle

Multiplayer Games

History-Dependent Parrondo Games

Quantum Parrondo Games

Cooperative Games

The Allison Mixture

References

Bibliography

Chapter Five. Coins, Wheels, and Oddments

Biased Coins

Statistical Properties of Coins

Coin Matching

Coin Games

Heads–Tails Interplay

The Two-Armed Bandit

Nontransitive Sequences

Quantum Coin Tossing

Diverse Recreations

Casino Games

Public Games

Puzzlements

References

Bibliography

Chapter Six. Coups and Games with Dice

A Brief Chronicle

Detection of Bias

Divers Dice Probabilities

Structured Dice Games

Nontransitive Dice

Sicherman’s Dice

Casino Games

Backgammon

Dice Divertissements

References

Bibliography

Chapter Seven. The Play of the Cards

Origins and Species

Randomness and Shuffling

Card Probabilities

Matching Problems (Rencontres)

Selected Sidelights

Informal Card Games

Formal Card Games

Casino Games

Card Conundra

References

Bibliography

Chapter Eight. Blackjack

Memorabilia

Rules and Format

Ass

Details

Language:
English
Imprint:
Academic Press
eBook ISBN:
9780123978707

About the Author

Richard Epstein

Affiliations and Expertise

Consultant

Reviews

"This special edition remains the comprehensive unified mathematical treatment for a wide range of games of chance and skill. It includes the counter-intuitive Parrondo's paradox: a winning strategy can result from switching between losing games. An entertainment for all who read it, a text for innovative university courses, and a reference for those concerned with probability and game theory."--Edward O. Thorp, author of BEAT THE DEALER and BEAT THE MARKET