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Articles 1 - 4 of 4
Full-Text Articles in Applied Mathematics
Covid-19 In Casinos: Analysis Of Covid-19 Contamination And Spread With Economic Impact Assessment, Anastasia (Stasi) D. Baran, Jason D. Fiege
Covid-19 In Casinos: Analysis Of Covid-19 Contamination And Spread With Economic Impact Assessment, Anastasia (Stasi) D. Baran, Jason D. Fiege
International Conference on Gambling & Risk Taking
Abstract:
The COVID-19 pandemic caused tremendous disruption for casinos, with the virus causing various lengths of shutdowns, capacity restrictions, and social distancing strategies such as machine removals or section closures. Although most of the world has now eased off these measures, it is important to review lessons learned to understand, and better prepare for similar circumstances in the future. We present Monte Carlo slot floor simulation software customized to simulate players spreading COVID-19 on the slot floor. We simulate the amount of touch surface contamination; the number of potential surface contact exposure events per day, and a proximity exposures statistic …
Self-Correcting Kelly Strategies For Skeptical Traders, Aaron C. Brown
Self-Correcting Kelly Strategies For Skeptical Traders, Aaron C. Brown
International Conference on Gambling & Risk Taking
The Kelly criterion gives the appropriate bet size in idealized situations with known parameters. In financial trading situations parameters are generally unknown and the mathematical assumptions underlying the Kelly proof are not met precisely. Moreover a risk manager typically must cooperate with a trader who may be skeptical about both the Kelly criterion specifically and the concept of mathematical optimization of bet size in general.
This presentation tackles the problem of designing a Kelly-based system for setting trade risk management parameters that is both self-correcting (the system delivers good results even if initial parameter are misestimated or parameters change) and …
Optimizing The Mix Of Games And Their Locations On The Casino Floor, Jason D. Fiege, Anastasia D. Baran
Optimizing The Mix Of Games And Their Locations On The Casino Floor, Jason D. Fiege, Anastasia D. Baran
International Conference on Gambling & Risk Taking
We present a mathematical framework and computational approach that aims to optimize the mix and locations of slot machine types and denominations, plus other games to maximize the overall performance of the gaming floor. This problem belongs to a larger class of spatial resource optimization problems, concerned with optimizing the allocation and spatial distribution of finite resources, subject to various constraints. We introduce a powerful multi-objective evolutionary optimization and data-modelling platform, developed by the presenter since 2002, and show how this software can be used for casino floor optimization. We begin by extending a linear formulation of the casino floor …
Stationary And Time-Dependent Optimization Of The Casino Floor Slot Machine Mix, Anastasia D. Baran, Jason D. Fiege
Stationary And Time-Dependent Optimization Of The Casino Floor Slot Machine Mix, Anastasia D. Baran, Jason D. Fiege
International Conference on Gambling & Risk Taking
Modeling and optimizing the performance of a mix of slot machines on a gaming floor can be addressed at various levels of coarseness, and may or may not consider time-dependent trends. For example, a model might consider only time-averaged, aggregate data for all machines of a given type; time-dependent aggregate data; time-averaged data for individual machines; or fully time dependent data for individual machines. Fine-grained, time-dependent data for individual machines offers the most potential for detailed analysis and improvements to the casino floor performance, but also suffers the greatest amount of statistical noise. We present a theoretical analysis of single …