Skip to content

The essence of the phenomenon of gambling is decision making. The act of making a decision consists of selecting one course of action, or strategy, from among the set of admissible strategies.

— Richard Arnold Epstein

Another quote →

More quotes by Richard Arnold Epstein

The earliest full-length account of a chariot race appears in Book xxiii of the Iliad.

The hope of a positive expected gain lies in detecting a wheel with sufficient bias.

Reflecting an amalgam of economics, monetary, and psychological factors, the stock market represents possibly the most subtly intricate game invented by man.

A proven theorem of game theory states that every game with complete information possesses a saddle point and therefore a solution.

Generally, a betting system for which each wager depends only on present resources and present probability of success is known as a Markov betting system.

All Richard Arnold Epstein quotes →

Attribution

Quote text and notes from Wikiquote: Richard Arnold Epstein (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.