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Gambler's Ruin Problem in Several Dimensions

✍ Scribed by Andrej Kmet; Marko Petkovšek

Publisher
Elsevier Science
Year
2002
Tongue
English
Weight
100 KB
Volume
28
Category
Article
ISSN
0196-8858

No coin nor oath required. For personal study only.

✦ Synopsis

We give an explicit solution of the gambler's ruin problem when the players use two or more currencies. We also determine the asymptotics of the expected duration of the game when both players have equal amounts of each currency.  2002 Elsevier Science (USA)

📜 SIMILAR VOLUMES

The gambler's ruin problem with n player
The gambler's ruin problem with n players and asymmetric play
✍ Amy L. Rocha; Frederick Stern 📂 Article 📅 1999 🏛 Elsevier Science 🌐 English ⚖ 98 KB

The expected ruin time and the probabilities of ruin are found for the n-player gambler's ruin problem with asymmetric play for certain cases of equal initial fortunes. Independence of the ruin time with which player is ruined is also shown.