منابع مشابه
Gambler's Ruin
Consider two gamblers A, B with initial integer fortunes a, b. Let m = a + b denote the initial sum of fortunes. In each round of a fair game, one player wins and is paid 1 by the other player: (a, b) 7 → ((a + 1, b − 1) with probability 1/2, (a − 1, b + 1) 00 Assume that rounds are independent for the remainder of this essay. The ruin probability p E for a gambler E is the probability that E's...
متن کاملThe moments of the time of ruin , the surplus before ruin , and the deficit at ruin
In this paper we extend the results in Lin and Willmot (1999 Insurance: Mathematics and Economics 25, 63–84) to properties related to the joint and marginal moments of the time of ruin, the surplus before the time of ruin, and the deficit at the time of ruin. We use an approach developed in Lin and Willmot (1999), under which the solution to a defective renewal equation is expressed in terms of...
متن کاملFear of ruin
This paper offers interpretative properties of the “fear of ruin” coefficient u/u0 (Aumann and Kurz, 1977, Econometrica). This coefficient controls the behavior of expected utility maximizers towards the risk of losing their entire wealth. It is shown that this coefficient also captures risk-aversion motives in first-price auctions model. Equivalent comparative properties of “more fear of ruin”...
متن کاملEverything Computes
The emergence of complexity in our universe is caused by generative processes that confound us. Collective behaviours going under names such as evolution, swarming, embryogenesis, thought, and emergence produce results that seem counterintuitive (or downright impossible) when the individual elements in the collective are examined. In this seminar I explore the causes of complex behaviour in gen...
متن کاملEverything flows
S ometimes, an important aspect of the world is so obvious that we simply take it for granted. We rarely discuss it or even think about it explicitly. In our opinion, the processual nature of reality— that it is fundamentally a sequence of interconnected occurrences or events—is one such aspect: we continually experience change, but tend instead to explain the world in terms of static things. F...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Performance Research
سال: 2018
ISSN: 1352-8165,1469-9990
DOI: 10.1080/13528165.2018.1460473