Description 
xi, 244 p. : ill. ; 25 cm. 
Series 
Applications of mathematics ; 32.

Bibliography 
Includes bibliographical references (p. [227]237) and indexes. 
Contents 
1. Introduction  2. Gambling Houses and the Conservation of Fairness  3. Leavable Gambling Problems  4. Nonleavable Gambling Problems  5. Stationary Families of Strategies  6. Approximation Theorems  7. Stochastic Games. 
Summary 
The theory of probability began in the seventeenth century with attempts to calculate the odds of winning in certain games of chance. However, it was not until the middle of the twentieth century that mathematicians developed general techniques for maximizing the chances of beating a casino or winning against an intelligent opponent. These methods of finding optimal strategies are at the heart of the modern theory of stochastic control and stochastic games. 

This monograph provides an introduction to the ideas of gambling theory and stochastic games. The first chapters introduce the ideas and notation of gambling theory. Chapters 3 and 4 consider "leavable" and "nonleavable" problems that form the core theory of this subject. Chapters 5, 6, and 7 cover stationary strategies, approximation results, and twoperson zerosum stochastic games, respectively. Throughout, the authors have included examples, and there are problem sets at the end of each chapter. 
Subject 
Games of chance (Mathematics)


Gambling.


Stochastic inequalities.

Related Names 
Sudderth, William D.

ISBN 
0387946284 (acidfree paper) 

9780387946283 (acidfree paper) 
OCLC number 
33276855 
