We explore some little investigated aspects of the well known betting scheme defining coherent lower or upper previsions in terms of admissible gains. A limiting situation (lose-or-draw) where the supremum of some gain is zero is discussed, deriving a gambler’s gain evaluations and comparing the differences between the imprecise and precise prevision cases. Then, the correspondence of the betting scheme for imprecise previsions with real-world situations is analysed, showing how the gambler’s profit objectives may compel him to select certain types of bets.

A Gambler's Gain Prospects with Coherent Imprecise Previsions

VICIG, PAOLO
2010-01-01

Abstract

We explore some little investigated aspects of the well known betting scheme defining coherent lower or upper previsions in terms of admissible gains. A limiting situation (lose-or-draw) where the supremum of some gain is zero is discussed, deriving a gambler’s gain evaluations and comparing the differences between the imprecise and precise prevision cases. Then, the correspondence of the betting scheme for imprecise previsions with real-world situations is analysed, showing how the gambler’s profit objectives may compel him to select certain types of bets.
2010
9783642140549
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11368/2300139
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