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Richard Arnold Epstein Quotes

There are no conventional games involving conditions of uncertainty without risk Picture Quote #1
The hope of a positive expected gain lies in detecting a wheel with sufficient bias Picture Quote #1
Anthropologists have often commented on the striking resemblance between the uneducated gambler and the primitive Picture Quote #1
In general statistics can be considered as the offspring of the theory of probability, it builds on its parent and extends the area of patronymic jurisdiction Picture Quote #1
A proven theorem of game theory states that every game with complete information possesses a saddle point and therefore a solution Picture Quote #1
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 Picture Quote #1
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Against human opposition the machine usually emerges victorious, since individual patterns tend to be not random but a function of emotions and previous training and experience Picture Quote #1
Reflecting an amalgam of economics, monetary, and psychological factors, the stock market represents possibly the most subtly intricate game invented by man Picture Quote #1
The assumption that individuals act objectively in accordance with purely mathematical dictates to maximize their gain or utility cannot be sustained by empirical observation Picture Quote #1
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Text Quotes
There are no conventional games involving conditions of uncertainty without risk  (Richard Arnold Epstein Quotes) The hope of a positive expected gain lies in detecting a wheel with sufficient bias  (Richard Arnold Epstein Quotes) Anthropologists have often commented on the striking resemblance between the uneducated gambler and the primitive  (Richard Arnold Epstein Quotes) In general statistics can be considered as the offspring of the theory of probability, it builds on its parent and extends the area of patronymic jurisdiction  (Richard Arnold Epstein Quotes) A proven theorem of game theory states that every game with complete information possesses a saddle point and therefore a solution  (Richard Arnold Epstein Quotes) 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 Quotes) Against human opposition the machine usually emerges victorious, since individual patterns tend to be not random but a function of emotions and previous training and experience  (Richard Arnold Epstein Quotes) Reflecting an amalgam of economics, monetary, and psychological factors, the stock market represents possibly the most subtly intricate game invented by man  (Richard Arnold Epstein Quotes) The assumption that individuals act objectively in accordance with purely mathematical dictates to maximize their gain or utility cannot be sustained by empirical observation  (Richard Arnold Epstein Quotes)