A bold strategy is not always optimal in the presence of inflation

DOI10.1239/jap/1082999089zbMath1057.60036OpenAlexW2160189950MaRDI QIDQ4819482

Alan Zame, Lawrence A. Shepp, Robert W. Chen

Publication date: 24 September 2004

Published in: Journal of Applied Probability (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1239/jap/1082999089

zbMATH Keywords

optimal strategygambling problembold strategyprimitive casino

Mathematics Subject Classification ID

Special processes (60K99) Stopping times; optimal stopping problems; gambling theory (60G40) Optimal stopping in statistics (62L15) Probabilistic games; gambling (91A60)

Related Items (5)

On Optimality of Bold Play for Primitive Casinos in the Presence of Inflation ⋮ Explicit Optimal Strategy for the Vardi Casino with Limited Playing Time ⋮ Optimal Strategy for the Vardi Casino with Interest Payments ⋮ On Optimality of Bold Play for Discounted Dubins-Savage Gambling Problems with Limited Playing Times ⋮ Maximizing the discounted survival probability in Vardi's casino

Cites Work

• Discounted and rapid subfair red-and-black
• Red-and-black with unknown win probability
• Subfair primitive casino with a discount factor
• Subfair ?Red-and-Black? in the presence of inflation
• On discounted subfair primitive casino
• Optimal Stopping When the Future is Discounted
• Subfair Red-and-Black with a Limit
• Unnamed Item

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