Sheldon M. Ross - Some Multiple Player Gambler's Ruin Problems

Event Details
  • Date/Time:
    • Tuesday March 16, 2010
      12:00 pm - 1:00 pm
  • Location: ISyE Executive classroom
  • Phone:
  • URL:
  • Email:
  • Fee(s):
    N/A
  • Extras:
Contact
No contact information submitted.
Summaries

Summary Sentence: Some Multiple Player Gambler’s Ruin Problems

Full Summary: Some Multiple Player Gambler's Ruin Problems

TITLE: Some Multiple Player Gambler’s Ruin Problems

SPEAKER: Sheldon M. Ross

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)

Invited Audience
No audiences were selected.
Categories
Seminar/Lecture/Colloquium
Keywords
gambler, or-seminars, statistics-seminars
Status
  • Created By: Anita Race
  • Workflow Status: Published
  • Created On: Feb 23, 2010 - 7:09am
  • Last Updated: Oct 7, 2016 - 9:49pm