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What's luck got to do with it? : the history, mathematics, and psychology behind the gambler's illusion / Joseph Mazur.

By: Material type: TextTextPublication details: Princeton, N.J. : Princeton University Press, ©2010.Description: 1 online resource (xvii, 277 pages) : illustrationsContent type:
  • text
Media type:
  • computer
Carrier type:
  • online resource
ISBN:
  • 9781400834457
  • 1400834457
Subject(s): Genre/Form: Additional physical formats: Print version:: What's luck got to do with it?DDC classification:
  • 519.2/7 22
LOC classification:
  • QA271 .M39 2010eb
Online resources:
Contents:
The history -- Pits, pebbles, and bones : rolling to discover fate -- The professionals : luck becomes measurable -- From coffeehouses to casinos : gaming becomes big business -- There's no stopping it now : from bans to bookies -- Betting with trillions : the 2008 world economic calamity -- The mathematics -- Who's got a royal flush? : one deal as likely as another -- The behavior of a coin : making predictions with probability -- Someone has to win : betting against expectation -- A truly astonishing result : the weak law of large numbers -- The skill/luck spectrum : even great talent needs some good fortune -- The analysis -- Let it ride : the house money effect -- Knowing when to quit : psychomanaging risk -- The theories : what makes a gambler? -- Hot hands : expecting long runs of the same outcome -- Luck : the dicey illusion.
Summary: Why do so many gamblers risk it all when they know the odds of winning are against them? Why do they believe dice are "hot" in a winning streak? Why do we expect heads on a coin toss after several flips have turned up tails? What's Luck Got to Do with It? takes a lively and eye-opening look at the mathematics, history, and psychology of gambling to reveal the most widely held misconceptions about luck. It exposes the hazards of feeling lucky, and uses the mathematics of predictable outcomes to show when our chances of winning are actually good. Mathematician Joseph Mazur traces the history of.
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Includes bibliographical references and index.

The history -- Pits, pebbles, and bones : rolling to discover fate -- The professionals : luck becomes measurable -- From coffeehouses to casinos : gaming becomes big business -- There's no stopping it now : from bans to bookies -- Betting with trillions : the 2008 world economic calamity -- The mathematics -- Who's got a royal flush? : one deal as likely as another -- The behavior of a coin : making predictions with probability -- Someone has to win : betting against expectation -- A truly astonishing result : the weak law of large numbers -- The skill/luck spectrum : even great talent needs some good fortune -- The analysis -- Let it ride : the house money effect -- Knowing when to quit : psychomanaging risk -- The theories : what makes a gambler? -- Hot hands : expecting long runs of the same outcome -- Luck : the dicey illusion.

Why do so many gamblers risk it all when they know the odds of winning are against them? Why do they believe dice are "hot" in a winning streak? Why do we expect heads on a coin toss after several flips have turned up tails? What's Luck Got to Do with It? takes a lively and eye-opening look at the mathematics, history, and psychology of gambling to reveal the most widely held misconceptions about luck. It exposes the hazards of feeling lucky, and uses the mathematics of predictable outcomes to show when our chances of winning are actually good. Mathematician Joseph Mazur traces the history of.

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