The Doctrine of Chances: Probabilistic Aspects of Gambling (Probability and Its Applications)

Description

I have found many thousands more readers than I ever looked for. I have no right to say to these, You shall not ?nd fault with my art, or fall asleep over my pages; but I ask you to believe that this person writing strives to tell the truth. If there is not that, there is nothing. William Makepeace Thackeray, The History of Pendennis This is a monograph/textbook on the probabilistic aspects of gambling, intended for those already familiar with probability at the post-calculus, p- measure-theory level. Gambling motivated much of the early development of probability the- 1 ory (David 1962). Indeed, some of the earliest works on probability include Girolamo Cardano’s [1501–1576] Liber de Ludo Aleae (The Book on Games of Chance, written c. 1565, published 1663), Christiaan Huygens’s [1629– 1695] “De ratiociniis in ludo aleae” (“On reckoning in games of chance,” 1657), Jacob Bernoulli’s [1654–1705]Ars Conjectandi (The Art of Conject- ing, written c. 1690, published 1713), Pierre R´ emond de Montmort’s [1678– 1719] Essay d’analyse sur les jeux de hasard (Analytical Essay on Games of Chance, 1708, 1713), and Abraham De Moivre’s [1667–1754]TheDoctrineof Chances (1718, 1738, 1756). Gambling also had a major in?uence on 20- century probability theory, as it provided the motivation for the concept of a martingale.