“Expectation is a statistical fiction, like having 2.5 children.”
Part One, Entropy, Gamblers Ruin, p. 50
Fortune's Formula (2005)
“Expectation is a statistical fiction, like having 2.5 children.”
Part One, Entropy, Gamblers Ruin, p. 50
Fortune's Formula (2005)
Source: Labyrinths of Reason (1988), Chapter 1: "Paradox", p. 11
“Your second ducat, like your second million, is never quite as sweet.”
Part Four, St. Petersburg Wager, Daniel Bernoulli, p. 186
Fortune's Formula (2005)
Part Three, Arbitrage, This Is Not the Time To Buy Stocks, p. 134
Fortune's Formula (2005)