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Results tagged with decision-theory
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user 37672
the mathematical study of strategies for optimal decision-making between options involving different risks or expectations of gain or loss depending on the outcome.
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Analyzing a Gambling Race Paradox
Suppose a number of players are given $100$ points each, and repeatedly engage in a gamble having positive expected value, with the goals of being the first player to reach $100000$ points. Solving f …
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