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“a gambler with finite wealth, playing a fair game will eventually go broke against an opponent with infinite wealth. ” what does that exactly. You might be familiar with the “gambler’s ruin” problem. After the flip of a fair coin, the loser transfers a dollar ($1) to the winner. We say that the game is fair if p = q subfair if p<q superfair if p>q.
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They flip a fair coin, and every time a head appears, albert wins $1 from eric, and vice versa for tails. The gambler’s objective is to reach a total fortune of $n, without first getting ruined (running out of money).
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