Accession Number : AD0774307

Title :   Optimal Gambling and Investment Systems Under Discounting and Disbursement.

Descriptive Note : Research rept.,

Corporate Author : CALIFORNIA UNIV BERKELEY OPERATIONS RESEARCH CENTER

Personal Author(s) : Pasternack,Barry A.

Report Date : JAN 1974

Pagination or Media Count : 120

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)

Descriptors :   *Game theory, *Probability, Strategy, Distribution functions, Investments, Theorems

Subject Categories : Operations Research

Distribution Statement : APPROVED FOR PUBLIC RELEASE