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Richard Arnold Epstein Quotes: The essence of the phenomenon of gambling is decision making. The act of making a decision consists of selecting one course of action, or strategy, from among the set of admissible strategies.
         

The essence of the phenomenon of gambling is decision making. The act of making a decision consists of selecting one course of action, or strategy, from among the set of admissible strategies.


Richard Arnold Epstein
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Other quotes of Richard Arnold Epstein


The assumption that individuals act objectively in accordance with purely mathematical dictates to maximize their gain or utility cannot be sustained by empirical observation.

The assumption that individuals act objectively in accordance with purely mathematical dictates to maximize their gain or utility cannot be sustained by empirical observation.



Generally, a betting system for which each wager depends only on present resources and present probability of success is known as a Markov betting system.

Generally, a betting system for which each wager depends only on present resources and present probability of success is known as a Markov betting system.



The French philosopher Pierre-Hyacinthe Azaïs (1766-1845) formalized the statement that good and evil fortune are exactly balanced in that they produce for each person an equivalent result.

The French philosopher Pierre-Hyacinthe Azaïs (1766-1845) formalized the statement that good and evil fortune are exactly balanced in that they produce for each person an equivalent result.



There are no conventional games involving conditions of uncertainty without risk.

There are no conventional games involving conditions of uncertainty without risk.



Reflecting an amalgam of economics, monetary, and psychological factors, the stock market represents possibly the most subtly intricate game invented by man.

Reflecting an amalgam of economics, monetary, and psychological factors, the stock market represents possibly the most subtly intricate game invented by man.



The earliest full-length account of a chariot race appears in Book xxiii of the Iliad.

The earliest full-length account of a chariot race appears in Book xxiii of the Iliad.



A proven theorem of game theory states that every game with complete information possesses a saddle point and therefore a solution.

A proven theorem of game theory states that every game with complete information possesses a saddle point and therefore a solution.





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The thought of being with Shay Wilder makes me want to gouge my eyes out with a butter knife



Become 'tested' in such a way that not a single word in this world can shake you up.

Become 'tested' in such a way that not a single word in this world can shake you up.



MUGWUMP, n. In politics one afflicted with self-respect and addicted to the vice of independence. A term of contempt.

MUGWUMP, n. In politics one afflicted with self-respect and addicted to the vice of independence. A term of contempt.



The brain is not the mind. It is probably impossible to look at a map of brain activity and predict or even understand the emotions, reactions, hopes and desires of the mind.

The brain is not the mind. It is probably impossible to look at a map of brain activity and predict or even understand the emotions, reactions, hopes and desires of the mind.



I care deeply about journalism, but we need to be a business.

I care deeply about journalism, but we need to be a business.



I would be humiliated if I found out that anything I did actually became a commercial success.

I would be humiliated if I found out that anything I did actually became a commercial success.



He truly sorrows who sorrows unseen.

He truly sorrows who sorrows unseen.



You know, I'm very photogenic.

You know, I'm very photogenic.



I understand English; I read and write English perfectly, but the accent won't go away.

I understand English; I read and write English perfectly, but the accent won't go away.



Everyone has their own weaknesses, for me, I believe it is my speed. I need to train more for that in order to be faster.

Everyone has their own weaknesses, for me, I believe it is my speed. I need to train more for that in order to be faster.




Quote Description


This page presents the quote "The essence of the phenomenon of gambling is decision making. The act of making a decision consists of selecting one course of action, or strategy, from among the set of admissible strategies.". Author of this quote is Richard Arnold Epstein. This quote is about decision making, gambling, action, decision, phenomenon, strategy, essence,.