When

Start: 02/11/2010 - 4:15pm

End : 02/11/2010 - 5:15pm

End : 02/11/2010 - 5:15pm

Category

Statistics/OR/Math Finance Seminar

Speaker

Sheldon Ross, USC

Abstract

Suppose there are r gamblers, with gambler i initially having a fortune of n_i. In our first model

we suppose that at each stage two of the gamblers are chosen to play a game, equally likely to

be won by either player, with the winner of the game receiving 1 from the loser. Any gambler

whose fortune becomes 0 leaves, and this continues until there is only a single gambler left.

We are interested in the probability that player i is the one left, and in the the mean number

of games played between specified players i and j. In our second model we suppose that all

remaining players contribute 1 to a pot, which is equally likely to be won by each of them. The

problem here is to determine the expected number of games played until one player has all the

funds.

Where

Harvey Mudd College
3rd floor Sprague
Refreshments at 4pm.