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)
“At the gambling table, there are no fathers and sons.”
—Chinese proverb.
“I am the very pattern of a modern Major-Gineral,
I’ve information vegetable, animal, and mineral;
I know the kings of England, and I quote the fights historical,
From Marathon to Waterloo, in order categorical;”
—Sir William Schwenck Gilbert (1836–1911)
“Thus the theory of description matters most.
It is the theory of the word for those
For whom the word is the making of the world,
The buzzing world and lisping firmament.”
—Wallace Stevens (1879–1955)