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Huygens' solution to the gambler's ruin problem

✍ Scribed by Eddie Shoesmith

Publisher
Elsevier Science
Year
1986
Tongue
English
Weight
403 KB
Volume
13
Category
Article
ISSN
0315-0860

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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)

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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.