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Full-Text Articles in Social and Behavioral Sciences
The Gambler's Edge - A Theoretical Framework To Trading Securities, Matthew Haines
The Gambler's Edge - A Theoretical Framework To Trading Securities, Matthew Haines
All Graduate Theses and Dissertations, Spring 1920 to Summer 2023
Like gamblers, retail investors seeking excess returns in financial markets are prone to miscalculation and their models are often misspeciffied. Forecasting asset prices is extremely difficult in the long run and nearly infeasible in the short run. Additionally, retail investors are likely to be at a disadvantage both technologically and informationally—rarely will they be ahead of the curve. With these disadvantages and the difficulty of predicting future outcomes, retail investors may come to view prices as unpredictable and random in nature, like a roll of the dice. This theoretical research explores a possible investing methodology (derived from gambling principles) should …
The Expected Value Of An Advantage Blackjack Player, Kamron Jensen
The Expected Value Of An Advantage Blackjack Player, Kamron Jensen
All Graduate Plan B and other Reports, Spring 1920 to Spring 2023
The following paper takes an in-depth look at the gambling game Blackjack, also known as Twenty-One, and asks the question: If the game is beatable, how much can one expect to win playing Blackjack? This paper starts by explaining how the game is played and continues by telling of how Thorpe (1962) discovered that the game can be beaten. It then goes into detail of how the game has changed over the past 50 years and what it takes to beat the game today. To find the expected value of a winning strategy, I create a computer program to run …