ON RANDOM WALKS WITH AN ABSORBING BARRIER AND GAMBLING SYSTEMS,

Abstract

For random walks with an absorbing barrier at the origin and negative drift, it is proven that all sufficiently smooth bounded super-additive functions have a limit at plus infinity. This result is applied to a sequence of favorable gambling games to prove a conjecture due to Ferguson concerning asymptotically optimal betting strategies. (Author)

Document Details

Document Type
Technical Report
Publication Date
Mar 01, 1965
Accession Number
AD0614064

Entities

People

  • L. Breiman

Organizations

  • University of California, Los Angeles

Tags

DTIC Thesaurus Topics

  • Additives (Chemicals)
  • Gambling
  • Mathematics
  • Probability
  • Random Walk
  • Sequences

Fields of Study

  • Mathematics

Readers

  • Fluid Dynamics.
  • Game Theory.
  • Statistical inference.