Generalizations of bold play in red and black
| Autor: | Kyle Siegrist, Marcus Pendergrass |
|---|---|
| Rok vydání: | 2001 |
| Předmět: |
Statistics and Probability
Markov chain Continuous function Applied Mathematics Hitting time Mathematical properties Markov process Bold play symbols.namesake Modeling and Simulation Modelling and Simulation symbols State space Game theory Mathematical economics Red and black Mathematics Deterministic system |
| Zdroj: | Stochastic Processes and their Applications. 92(1):163-180 |
| ISSN: | 0304-4149 |
| DOI: | 10.1016/s0304-4149(00)00069-7 |
| Popis: | The strategy of bold play in the game of red and black leads to a number of interesting mathematical properties: the player's fortune follows a deterministic map, before the transition that ends the game; the bold strategy can be “re-scaled” to produce new strategies with the same win probability; the win probability is a continuous function of the initial fortune, and in the fair case, equals the initial fortune. We consider several Markov chains in more general settings and study the extent to which the properties are preserved. In particular, we study two “ k -player” models. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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