Accession Number:

AD0614064

Title:

ON RANDOM WALKS WITH AN ABSORBING BARRIER AND GAMBLING SYSTEMS,

Descriptive Note:

Corporate Author:

CALIFORNIA UNIV LOS ANGELES

Personal Author(s):

Report Date:

1965-03-01

Pagination or Media Count:

14.0

Abstract:

For random walks with an absorbing barrier at the origin and negative drift, it is proven that all sufficiently smooth bounded super-additive functions have a limit at plus infinity. This result is applied to a sequence of favorable gambling games to prove a conjecture due to Ferguson concerning asymptotically optimal betting strategies. Author

Subject Categories:

Distribution Statement:

APPROVED FOR PUBLIC RELEASE