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Author: Willem A. Wagenaar
Publisher: Routledge
ISBN: 1134879369
Category : Psychology
Languages : en
Pages : 133
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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: Willem A. Wagenaar
Publisher: Routledge
ISBN: 1134879369
Category : Psychology
Languages : en
Pages : 133
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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: P.N. Harish
Publisher: Partridge Publishing
ISBN: 1482814730
Category : Fiction
Languages : en
Pages : 229
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Book Description
Professor Dennis of Stanford University is shot to death in his study. Detectives quickly learn that he was actively involved in Las Vegas casino industry. They must find if his work there led to his murder or the fact that he had amassed a fortune in gambling. Was he manipulating the gaming machines? What was special about the design of the gaming controller? The detectives turn to Stanford University for help and find that he had incorporated a nanocarbon structure in the gaming controller, but how does it work? Was the professor using a paradox only known to him? Who wanted him dead, and who would profit from his death? Why was the manager of a casino in Las Vegas killed? The detectives find that gambling to be a deadly addiction. They find that gambling pays, but sometimes you pay with your life.
Author: Joseph Mazur
Publisher: Princeton University Press
ISBN: 1400834457
Category : Mathematics
Languages : en
Pages : 297
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Book Description
The hazards of feeling lucky in gambling Why do so many gamblers risk it all when they know the odds of winning are against them? Why do they believe dice are "hot" in a winning streak? Why do we expect heads on a coin toss after several flips have turned up tails? What's Luck Got to Do with It? takes a lively and eye-opening look at the mathematics, history, and psychology of gambling to reveal the most widely held misconceptions about luck. It exposes the hazards of feeling lucky, and uses the mathematics of predictable outcomes to show when our chances of winning are actually good. Mathematician Joseph Mazur traces the history of gambling from the earliest known archaeological evidence of dice playing among Neolithic peoples to the first systematic mathematical studies of games of chance during the Renaissance, from government-administered lotteries to the glittering seductions of grand casinos, and on to the global economic crisis brought on by financiers' trillion-dollar bets. Using plenty of engaging anecdotes, Mazur explains the mathematics behind gambling—including the laws of probability, statistics, betting against expectations, and the law of large numbers—and describes the psychological and emotional factors that entice people to put their faith in winning that ever-elusive jackpot despite its mathematical improbability. As entertaining as it is informative, What's Luck Got to Do with It? demonstrates the pervasive nature of our belief in luck and the deceptive psychology of winning and losing. Some images inside the book are unavailable due to digital copyright restrictions.
Author: Richard A. Epstein
Publisher: Gulf Professional Publishing
ISBN: 9780122407611
Category : Business & Economics
Languages : en
Pages : 476
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Book Description
Covering all aspects of gambling, The Theory of Gambling and Statistical Logic is mathematically sophisticated, but can be read for what it says about the games and strategies, skipping the technicalities. The material is fascinating and detailed, and the analysis is masterful.
Author: Adam Kucharski
Publisher: Basic Books
ISBN: 0465098592
Category : Mathematics
Languages : en
Pages : 288
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Book Description
"An elegant and amusing account" of how gambling has been reshaped by the application of science and revealed the truth behind a lucky bet (Wall Street Journal). For the past 500 years, gamblers-led by mathematicians and scientists-have been trying to figure out how to pull the rug out from under Lady Luck. In The Perfect Bet, mathematician and award-winning writer Adam Kucharski tells the astonishing story of how the experts have succeeded, revolutionizing mathematics and science in the process. The house can seem unbeatable. Kucharski shows us just why it isn't. Even better, he demonstrates how the search for the perfect bet has been crucial for the scientific pursuit of a better world.
Author: Ruma Falk
Publisher: Createspace Independent Publishing Platform
ISBN: 9781540657701
Category : Chance
Languages : en
Pages : 0
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Book Description
The series of heads and tails obtained when tossing a fair coin exemplifies a random sequence. Randomness defies a strict definition, yet it is widely used in daily and scientific discourse. When perceiving or producing randomness, people err by exaggeratedly expecting a change after a few identical symbols. This is the gambler's fallacy (GF). Diverse real manifestations of GF, in casino or lottery decisions, expressions in fiction and art, and uses in deciphering codes, are all described, interwoven with stories and anecdotes. The roots of GF are presumably ascribed to one's inability to forget or ignore previous stimuli in a sequence. Students, not only of psychology, and other inquisitive readers may find the GF issue challenging.
Author: Leighton Vaughan Williams
Publisher: CRC Press
ISBN: 1000458873
Category : Mathematics
Languages : en
Pages : 311
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Book Description
Much of our thinking is flawed because it is based on faulty intuition. By using the framework and tools of probability and statistics, we can overcome this to provide solutions to many real-world problems and paradoxes. We show how to do this, and find answers that are frequently very contrary to what we might expect. Along the way, we venture into diverse realms and thought experiments which challenge the way that we see the world. Features: An insightful and engaging discussion of some of the key ideas of probabilistic and statistical thinking Many classic and novel problems, paradoxes, and puzzles An exploration of some of the big questions involving the use of choice and reason in an uncertain world The application of probability, statistics, and Bayesian methods to a wide range of subjects, including economics, finance, law, and medicine Exercises, references, and links for those wishing to cross-reference or to probe further Solutions to exercises at the end of the book This book should serve as an invaluable and fascinating resource for university, college, and high school students who wish to extend their reading, as well as for teachers and lecturers who want to liven up their courses while retaining academic rigour. It will also appeal to anyone who wishes to develop skills with numbers or has an interest in the many statistical and other paradoxes that permeate our lives. Indeed, anyone studying the sciences, social sciences, or humanities on a formal or informal basis will enjoy and benefit from this book.
Author: Bruce Frey
Publisher: "O'Reilly Media, Inc."
ISBN: 0596553994
Category : Mathematics
Languages : en
Pages : 360
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Book Description
Want to calculate the probability that an event will happen? Be able to spot fake data? Prove beyond doubt whether one thing causes another? Or learn to be a better gambler? You can do that and much more with 75 practical and fun hacks packed into Statistics Hacks. These cool tips, tricks, and mind-boggling solutions from the world of statistics, measurement, and research methods will not only amaze and entertain you, but will give you an advantage in several real-world situations-including business. This book is ideal for anyone who likes puzzles, brainteasers, games, gambling, magic tricks, and those who want to apply math and science to everyday circumstances. Several hacks in the first chapter alone-such as the "central limit theorem,", which allows you to know everything by knowing just a little-serve as sound approaches for marketing and other business objectives. Using the tools of inferential statistics, you can understand the way probability works, discover relationships, predict events with uncanny accuracy, and even make a little money with a well-placed wager here and there. Statistics Hacks presents useful techniques from statistics, educational and psychological measurement, and experimental research to help you solve a variety of problems in business, games, and life. You'll learn how to: Play smart when you play Texas Hold 'Em, blackjack, roulette, dice games, or even the lottery Design your own winnable bar bets to make money and amaze your friends Predict the outcomes of baseball games, know when to "go for two" in football, and anticipate the winners of other sporting events with surprising accuracy Demystify amazing coincidences and distinguish the truly random from the only seemingly random--even keep your iPod's "random" shuffle honest Spot fraudulent data, detect plagiarism, and break codes How to isolate the effects of observation on the thing observed Whether you're a statistics enthusiast who does calculations in your sleep or a civilian who is entertained by clever solutions to interesting problems, Statistics Hacks has tools to give you an edge over the world's slim odds.
Author: Amir D. Aczel
Publisher: High Stakes
ISBN: 9781843440253
Category : Chance
Languages : en
Pages : 192
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Book Description
Celebrated mathematician Amir D Aczel sets his sights on the probability theory - the branch of mathematics that measures the likelihood of a random event. What is commonly called 'luck' has mathematical roots - and in Aczel's capable hands readers learn to increase their odds of success in everything from true love to the stock market.
Author: Eric Gold
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
