Gambling And Information Theory
Statistical inference might be thought of as gambling theory applied to the world around. The myriad applications for logarithmic information measures tell us precisely how to take the best guess in the face of partial information. In that sense, information theory might be considered a formal expression of the theory of gambling. It is no surprise, therefore, that information theory has applications to games of chance.
Read more about Gambling And Information Theory: Kelly Betting, Applications For Self-information
Famous quotes containing the words gambling and, gambling, information and/or theory:
“There are three roads to ruin; women, gambling and technicians. The most pleasant is with women, the quickest is with gambling, but the surest is with technicians.”
—Georges Pompidou (1911–1974)
“There are three roads to ruin; women, gambling and technicians. The most pleasant is with women, the quickest is with gambling, but the surest is with technicians.”
—Georges Pompidou (1911–1974)
“Many more children observe attitudes, values and ways different from or in conflict with those of their families, social networks, and institutions. Yet today’s young people are no more mature or capable of handling the increased conflicting and often stimulating information they receive than were young people of the past, who received the information and had more adult control of and advice about the information they did receive.”
—James P. Comer (20th century)
“It makes no sense to say what the objects of a theory are,
beyond saying how to interpret or reinterpret that theory in another.”
—Willard Van Orman Quine (b. 1908)