TY - JOUR
T1 - Solution of a roulette-type ruin problem - A correction to
T2 - A rule of thumb (not only) for gamblers
AU - Kozek, Andrzej S.
PY - 2002
Y1 - 2002
N2 - In the paper we derive a closed form formula for a probability of success in a roulette-type game. The player begins the game having j chips and plays one chip at a time. In each game, he either wins w chips with probability p or loses his chip with probability 1 - p. The game terminates when the player loses all his fortune or when his capital reaches, or exceeds level C. The present solution rectifies the incorrect one, presented in Section 3 of Kozek (Stochastic Process. Appl. 55 (1) (1995) 169).
AB - In the paper we derive a closed form formula for a probability of success in a roulette-type game. The player begins the game having j chips and plays one chip at a time. In each game, he either wins w chips with probability p or loses his chip with probability 1 - p. The game terminates when the player loses all his fortune or when his capital reaches, or exceeds level C. The present solution rectifies the incorrect one, presented in Section 3 of Kozek (Stochastic Process. Appl. 55 (1) (1995) 169).
UR - http://www.scopus.com/inward/record.url?scp=0036062861&partnerID=8YFLogxK
U2 - 10.1016/S0304-4149(02)00106-0
DO - 10.1016/S0304-4149(02)00106-0
M3 - Article
AN - SCOPUS:0036062861
SN - 0304-4149
VL - 100
SP - 301
EP - 311
JO - Stochastic Processes and their Applications
JF - Stochastic Processes and their Applications
IS - 1-2
ER -