|
In this book, we will examine:
- The history and science of probability and uncertainty
- Implications of chaos theory and quantum mechanics
- The history of gambling regulation and prohibition
- Why gambling is often condemned
- The difference between expectation and utility
- The irrationality of human beings
- Pyschological biases including the favourite-longshot bias, the hot hand fallacy, the gamblers fallacy, loss aversion, hindsight bias, attribution bias, overconfidence and more.
- Evolutionary perspectives on gambling
- Gambling neurochemistry & the addictive power of uncertainty
- The craving for control through gambling
- Our flawed patttern recognition and belief engine
- Luck versus skill in gambling
- Evidence from sports, casino games, poker and financial investing
- The paradox of skill
- Market efficiency and the wisdom of crowds
- Why winners take all
- Cheating and trust in gambling
- Why the forecasting process matters more than the outcome
- Wider lessons for better decision making under uncertainty
Next: Chapters
|