In gambling a Dutch book or lock is a set of odds and bets which guarantees a profit, regardless of the outcome of the gamble. It is associated with probabilities implied by the odds not being coherent.
In economics a Dutch book usually refers to a sequence of trades that would leave one party strictly worse off and another strictly better off. Typical assumptions in consumer choice theory rule out the possibility that anyone can be Dutch-booked.
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“The French courage proceeds from vanitythe German from phlegmthe Turkish from fanaticism & opiumthe Spanish from pridethe English from coolnessthe Dutch from obstinacythe Russian from insensibilitybut the Italian from anger.”
—George Gordon Noel Byron (17881824)
“Would you approve of your young sons, young daughtersbecause girls can read as well as boysreading this book? Is it a book that you would have lying around in your own house? Is it a book that you would even wish your wife or your servants to read?”
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