Sheldon Ross, University of Southern California

Event Details
  • Date/Time:
    • Tuesday March 16, 2010
      11:00 am - 12:00 pm
  • Location: Executive classroom
  • Phone:
  • URL:
  • Email:
  • Fee(s):
    N/A
  • Extras:
Contact

Ton Dieker, ISyE
Contact Ton Dieker
404-385-3140

Summaries

Summary Sentence: Joint Statistics/OR Colloquium Some Multiple Player Gambler's Ruin Problems

Full Summary: Suppose there are r gamblers, with gambler i initially having a fortune of ni. 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.

Speaker

Sheldon Ross
Epstein Chair Professor
Industrial and Systems Engineering
University of Southern California

Abstract

Suppose there are r gamblers, with gambler i initially having a fortune of ni. 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.

Additional Information

In Campus Calendar
No
Groups

H. Milton Stewart School of Industrial and Systems Engineering (ISYE)

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Categories
Seminar/Lecture/Colloquium
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Status
  • Created By: Mike Alberghini
  • Workflow Status: Published
  • Created On: Dec 20, 2012 - 10:47am
  • Last Updated: Oct 7, 2016 - 10:01pm