Improving on Bold Play at Craps

S. N. Ethier
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S. N. Ethier: University of Utah, Salt Lake City, Utah

Operations Research, 1987, vol. 35, issue 6, 814-819

Abstract: We derive heuristically a strategy we believe to be nearly optimal at craps (in the sense of maximizing the probability of reaching a specified goal). We then prove rigorously (with the aid of a computer) that this strategy is superior to bold play on “don't pass,” regardless of the ratio of one's initial fortune to one's goal.

Keywords: 236; nonoptimality; of; bold; play; at; craps (search for similar items in EconPapers)
Date: 1987
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