₹1995
(Incl. of all taxes)
Qty
Buying in bulk?
In stock
Deliver to
- 7-day returns
- Secure payment
- International shipping
- Carefully packed
Get this at ₹ 1895Extra 5% OffAdd items worth ₹999 to the cart & get extra 5% off
Get this at ₹ 1796Extra 10% OffAdd items worth ₹1499 to the cart & get extra 10% off
Book Summary
This volume provides the definitive treatment of fortune's formula or the Kelly
capital growth criterion as it is often called. The strategy is to maximize long
run wealth of the investor by maximizing the period by period expected utility
of wealth with a logarithmic utility function. Mathematical theorems show that
only the log utility function maximizes asymptotic long run wealth and minimizes
the expected time to arbitrary large goals. In general, the strategy is risky in
the short term but as the number of bets increase, the Kelly bettor's wealth
tends to be much larger than those with essentially different strategies. So
most of the time, the
- ISBN-13
- 9789814383134
- Language
- English
- Binding
- Paper Back
- Publisher
- World Scientific
- Publishing Date
- 2011-02-11
- Product Edition
- 1
- Total Pages
- 884
Kelly Capital Growth Investment Criterion
by Leonard C Maclean, Edward O Thorp (Author),
World Scientific (Publisher)
fictionfantasyyoung adultaward winning
Frequently bought together
Total for 3 items₹2121₹2135You save ₹14
Product Specifications
Book Summary
This volume provides the definitive treatment of fortune's formula or the Kelly
capital growth criterion as it is often called. The strategy is to maximize long
run wealth of the investor by maximizing the period by period expected utility
of wealth with a logarithmic utility function. Mathematical theorems show that
only the log utility function maximizes asymptotic long run wealth and minimizes
the expected time to arbitrary large goals. In general, the strategy is risky in
the short term but as the number of bets increase, the Kelly bettor's wealth
tends to be much larger than those with essentially different strategies. So
most of the time, the
Book Specifications
- ISBN-13
- 9789814383134
- Language
- English
- Binding
- Paper Back
- Publisher
- World Scientific
- Publishing Date
- 2011-02-11
- Product Edition
- 1
- Total Pages
- 884