Journal ArticleDOI
Dynamic Programming and Gambling Models
Reads0
Chats0
TLDR
In this article, the authors formulates and obtains optimal gambling strategies for certain gambling models by setting these models within the framework of dynamic programming (also referred to as Markovian decision processes) and then using results in this field.Abstract:
: In the paper the author formulates and obtains optimal gambling strategies for certain gambling models. This is done by setting these models within the framework of dynamic programming (also referred to as Markovian decision processes) and then using results in this field.read more
Citations
More filters
Journal ArticleDOI
Continuous-Time Red and Black: How to Control a Diffusion to a Goal
TL;DR: In superfair red-and-black, the strategy which maximizes the drift coefficient of {log X t } minimizes the expected time to reach 1, which implies that bold (timid) play is optimal for subfair (superfair), continuous-time red- and-black.
Journal ArticleDOI
A Renewal Decision Problem
TL;DR: In this paper, the problem of assigning the initial component and subsequent replacements from among the n types so as to minimize the total expected cost of providing an operative component for the t units of time is treated.
Book ChapterDOI
Finite State and Action MDPS
TL;DR: In this article, the authors consider Markov Decision Process (MDP) with finite state and action spaces and consider several criteria: total discounted expected reward, average expected reward and more sensitive optimality criteria including the Blackwell optimality criterion.
Journal ArticleDOI
Decision Problems with Expected Utility Critera, I: Upper and Lower Convergent Utility
TL;DR: A countable stage, countable state, finite action decision problem is considered where the objective is the maximization of the expectation of an arbitrary utility function defined on the sequence of states.
Posted Content
Optimal Gambling Systems For Favorable Games
TL;DR: In this article, the nature of the asymptotic time minimization problem in coin tossing has been discussed, as well as problems with finite goals in coin-tossing.
References
More filters
ReportDOI
Optimal Gambling Systems for Favorable Games
TL;DR: In this article, the authors consider the problem of betting a small but fixed fraction of the available money at every toss, assuming that the law of large numbers informs that the money converges almost surely to plus infinity.
Journal ArticleDOI
Negative Dynamic Programming
Journal ArticleDOI
Optimal Gambling Systems for Favorable Games
TL;DR: In this article, the authors present a mathematical theory for finding resources in the field of game development, focusing on the advantages of minimizing the probability of RUINING the game field.