Optimal Gambling and Investment Systems Under Discounting and Disbursement.
Abstract
Optimal gambling systems are investigated for games which incur either discounting or disbursement of money. The author studies simple coin tossing games, where the gambler wins his wager with probability p and loses it with probability q = 1 - p, and stock market options. The author develops the necessary criteria for the games to be favorable and the optimal strategies for a number of different objectives. (Modified author abstract)
Document Details
- Document Type
- Technical Report
- Publication Date
- Jan 01, 1974
- Accession Number
- AD0774307
Entities
People
- Barry A. Pasternack
Organizations
- University of California, Berkeley