Accession Number : AD0614064

Title :   ON RANDOM WALKS WITH AN ABSORBING BARRIER AND GAMBLING SYSTEMS,

Corporate Author : CALIFORNIA UNIV LOS ANGELES

Personal Author(s) : Breiman,L.

Report Date : MAR 1965

Pagination or Media Count : 14

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)

Descriptors :   (*GAME THEORY, STOCHASTIC PROCESSES), (*NUMERICAL ANALYSIS, GAME THEORY), MEASURE THEORY, STATISTICAL FUNCTIONS, OPTIMIZATION, OPERATIONS RESEARCH

Distribution Statement : APPROVED FOR PUBLIC RELEASE