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The Theory of Gambling and Statistical Logicby Richard A. Epstein
Elsevier 2009; US$ 44.95Early 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... more...
What's Luck Got to Do with It?by Joseph Mazur
Princeton University Press 2010; US$ 29.95Why 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... more...
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