Reflecting an amalgam of economics, monetary, and psychological factors, the stock market represents possibly the most subtly intricate game invented by man.
Richard Arnold EpsteinThe 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 EpsteinA proven theorem of game theory states that every game with complete information possesses a saddle point and therefore a solution.
Richard Arnold EpsteinGenerally, a betting system for which each wager depends only on present resources and present probability of success is known as a Markov betting system.
Richard Arnold EpsteinThere are no conventional games involving conditions of uncertainty without risk.
Richard Arnold EpsteinIn our most Puritan of society, gambling-like other pleasures-is either taxed, restricted to certain hours, or forbidden altogether. Yet the impulse to gamble remains an eternal aspect of the irrationality of man. It finds outlets in business, war, politics, in the formal overtures of the gambling casinos, and in the less ceremonious exchanges among individuals of differing opinions.
Richard Arnold Epstein