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Author: Brenner, Gabrielle A
Publisher: [Montréal] : Centre de recherche et développement en économique, Université de Montréal
ISBN: 9782893820187
Category :
Languages : en
Pages : 133
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Book Description
Author: Brenner, Gabrielle A
Publisher: [Montréal] : Centre de recherche et développement en économique, Université de Montréal
ISBN: 9782893820187
Category :
Languages : en
Pages : 133
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Book Description
Author: Mason Malmuth
Publisher: Two Plus Two Publishing LLC
ISBN: 9781880685037
Category : Games & Activities
Languages : en
Pages : 420
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Book Description
Absolutely must reading for all serious gamblers. Most people who gamble are basically attracted by the action and the excitement that this form of entertainment offers. But a small number of people are quite successful at it. How is this so? What helps these few to make decisions that devastate their opponents? And what do you need to do to become successful at this extremely challenging occupation? This text attempts to answer these questions. You will be introduced to the dynamic concept of non-self-weighting strategies and shown how these strategies apply not only at the "very exciting gaming tables" but in real life as well. In addition, risk and fluctuations are discussed in terms of the standard deviation and their relationship to each other and to your bankroll. Some of the other topics addressed are bankroll requirements, win-rate accuracy, free bets, which blackjack count is best, lottery fallacies, dangerous ideas, poker tournament strategies (including when it is correct to rebuy), settling up in tournaments, pai gow poker, super pan nine, the world's greatest gamblers, and building pyramids.
Author: Reuven Brenner
Publisher: Cambridge University Press
ISBN: 9780521381802
Category : Business & Economics
Languages : en
Pages : 302
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Book Description
Gambling and Speculation takes the long, historic perspective of its controversial subject. The book offers not only a better understanding of the recent "gambling craze," but also a fundamental inquiry into human nature and the structure of societies. The Brenners argue that the negative image of gamblers and of speculators stems from prejudice, whose roots are in the distant, forgotten past. Legal scholars have frequently confused gambling with speculation and the anti-gambling laws were, at times, erroneously interpreted as implying the prohibitions of contracts in futures and insurance markets. One consequence of all this confusion was that during this century both in the United States and England, the legislation and law on betting and gambling became ambiguous. The authors touch on this issue and make policy recommendations: to abolish restrictions on the industry, diminish the states' role in selling lotteries, and, at the same time, make legal distinctions capable of helping the tiny percentage of players who might be "addicted." The Brenners' recommendations on gambling are based on their conclusion that gamblers are neither "mentally ill" nor "criminals" and that gambling does not lead its practitioners to poverty. Rather, it is the other way around: some of the poor and the frustrated gamble. Looking at gambling in this way leads to questions about the nature of society: What do the fortunate do for those who are not? What is society's obligation to people who fall behind in the game of life? Answers to these questions require a discussion on the principles of equality, capitalism, the role of religious influence on society, topics that the Brenners have discussed in their previous studies, and they do so here too, putting gambling within its proper, historical context.
Author: Annie Duke
Publisher: Penguin
ISBN: 0735216371
Category : Business & Economics
Languages : en
Pages : 289
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Book Description
A Wall Street Journal bestseller, now in paperback. Poker champion turned decision strategist Annie Duke teaches you how to get comfortable with uncertainty and make better decisions. Even the best decision doesn't yield the best outcome every time. There's always an element of luck that you can't control, and there's always information hidden from view. So the key to long-term success (and avoiding worrying yourself to death) is to think in bets: How sure am I? What are the possible ways things could turn out? What decision has the highest odds of success? Did I land in the unlucky 10% on the strategy that works 90% of the time? Or is my success attributable to dumb luck rather than great decision making? Annie Duke, a former World Series of Poker champion turned consultant, draws on examples from business, sports, politics, and (of course) poker to share tools anyone can use to embrace uncertainty and make better decisions. For most people, it's difficult to say "I'm not sure" in a world that values and, even, rewards the appearance of certainty. But professional poker players are comfortable with the fact that great decisions don't always lead to great outcomes, and bad decisions don't always lead to bad outcomes. By shifting your thinking from a need for certainty to a goal of accurately assessing what you know and what you don't, you'll be less vulnerable to reactive emotions, knee-jerk biases, and destructive habits in your decision making. You'll become more confident, calm, compassionate, and successful in the long run.
Author: Richard A. Epstein
Publisher: Academic Press
ISBN: 0080958613
Category : Games & Activities
Languages : en
Pages : 457
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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. - 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
Author: Mikal J. Aasved
Publisher: Charles C Thomas Publisher
ISBN: 0398073805
Category : Psychology
Languages : en
Pages : 459
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Book Description
This is the second in a series of books intended to review and evaluate the most popular and influential explanations for gambling and the many research studies that have been conducted to confirm or refute them. This book focuses on the contributions of specialists in the social sciences, most of whom are convinced that gambling is a consequence of the social or subcultural environment in which the gambler lives. To further the understanding of why people gamble, investigators went to places where gambling occurred and spent time among and interacted with the gamblers. Some attended Gamblers Anonymous meetings and others became participant observers in gambling establishments by becoming employed as roulette croupiers or card dealers. Topics covered include the gambler's point of view, the researcher's point of view, social structure, economics, statistical tests of earlier ideas, special populations, ``armchair'' theories, gambling and the public, problem correlates, and risk factors. In addition, a critique of the qualitative and quantitative studies involving survey research methods and interview research methods is given that provides theoretical explanations for why people gamble. Numerous results from geographical surveys are provided, as well as tables that examine the research of problem gambling.
Author: Mikal Aasved
Publisher: Charles C Thomas Publisher
ISBN: 0398083606
Category : Compulsive gambling
Languages : en
Pages : 271
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Book Description
The Psychodynamics and Psychology of Gambling is the first volume in the four-volume The Gambling Theory and Research Series. Author Mikal Aasved felt a need to fill what he perceived to be a lack of background sources or reviews of literature pertaining to gambling theory and research. This series will present major findings of leading researchers as they study the causes and effects of gambling, both recreational and excessive. This first entry in the series reviews the most influential psychodynamic and psychological theories that explain why people gamble. Psychoanalytical theorists discussed include Freud, Von Hattingberg, Fenichel, Bergler, Simmel, Greenson, Stekel, and others. Aasved includes sections on behavioral (learning or reinforcement theory) psychological approaches to gambling with discussion of Skinner's ideas and research findings as well as Pavlov's principles. This book begins with the question 'Why do people gamble?' and offers many theories proposed by clinicians, laboratory and field researchers, and participants as they seek to explain the motivation behind gambling. The differences between gambling as entertainment and gambling compulsion is a focus of much research. Aasved addresses ideas set forth as to why some people are able to control their gambling and others cannot, even when it means sacrificing their jobs, family, and material possessions. This text provides a comprehensive background into theories of addiction research as studied by leaders in the field.
Author: Masood Zangeneh
Publisher: Springer Science & Business Media
ISBN: 0387721738
Category : Psychology
Languages : en
Pages : 355
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Book Description
As gambling become ever more ubiquitous, more people are risking their finances, family lives, and health in their desire to be the winner that takes it all. This book brings together an international panel of experts to present a wide variety of perspectives on problem gambling, and test popular addiction and disease models in the field. Early chapters examine the psychology of gambling, before moving on to the pastime’s associated irrational ideas. The seven chapters in the second half are devoted to evidence-based interventions from a variety of clinical orientations. Case examples, Q&A sections, and a glossary add extra readability to the coverage.
Author: Willem A. Wagenaar
Publisher: Routledge
ISBN: 1134879296
Category : Psychology
Languages : en
Pages : 136
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Book Description
Why does a large proportion of the population engage in some form of gambling, although they know they are most likely to lose, and that the gambling industry makes huge profits? Do gamblers simply accept their losses as fate, or do they believe that they will be able to overcome the negative odds in some miraculous way? The paradox is complicated by the fact that those habitual gamblers who are most aware that systematic losses cannot be avoided, are the least likely to stop gambling. Detailed analyses of actual gambling behaviour have shown gamblers to be victims of a variety of cognitive illusions, which lead them to believe that the general statistical rules of determining the probability of loss do not apply to them as individuals. The designers of gambling games cleverly exploit these illusions in order to promote a false perception of the situation. Much of the earlier interest in gambling behaviour has been centred on the traditional theories of human decision-making, where decisions are portrayed as choices among bets. This led to a tradition of studying decision-making in experiments on betting. In this title, originally published in 1988, the author argues that betting behaviour should not be used as a typical example of human decision-making upon which a general psychological theory could be founded, and that these traditional views can in no way account for the gambling behaviour reported in this book.
Author: William Poundstone
Publisher: Hill and Wang
ISBN: 0374707081
Category : Business & Economics
Languages : en
Pages : 399
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Book Description
In 1956, two Bell Labs scientists discovered the scientific formula for getting rich. One was mathematician Claude Shannon, neurotic father of our digital age, whose genius is ranked with Einstein's. The other was John L. Kelly Jr., a Texas-born, gun-toting physicist. Together they applied the science of information theory—the basis of computers and the Internet—to the problem of making as much money as possible, as fast as possible. Shannon and MIT mathematician Edward O. Thorp took the "Kelly formula" to Las Vegas. It worked. They realized that there was even more money to be made in the stock market. Thorp used the Kelly system with his phenomenally successful hedge fund, Princeton-Newport Partners. Shannon became a successful investor, too, topping even Warren Buffett's rate of return. Fortune's Formula traces how the Kelly formula sparked controversy even as it made fortunes at racetracks, casinos, and trading desks. It reveals the dark side of this alluring scheme, which is founded on exploiting an insider's edge. Shannon believed it was possible for a smart investor to beat the market—and William Poundstone's Fortune's Formula will convince you that he was right.
