The essence of the phenomenon of gambling is decision makin… - Richard Arnold Epstein

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The essence of the phenomenon of gambling is decision making. The act of making a decision consists of selecting one course of action, or strategy, from among the set of admissible strategies.

Richard Arnold Epstein

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About Richard Arnold Epstein

Richard Arnold Epstein (born 5 March 1927), also known under the pseudonym E. P. Stein, is a notable American game theorist.

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William Feller Aaron C. Brown William Poundstone John Kenneth Galbraith Didier Sornette

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The earliest full-length account of a chariot race appears in Book xxiii of the Iliad.

The first-known public lottery was sponsored by Augustus Caesar to raise funds for repairing the city of Rome; the first public lottery awarding money prizes, the Lotto de Firenze, was established in Florence in 1530.

One of the oldest mythological fables tells of Mercury playing at dice with Selene and winning from her the five days of the epact (thus totaling the 365 days of the year and harmonizing the lunar and solar calendars).

The essence of the phenomenon of gambling is decision making. The act of making a decision consists of selecting one course of action, or strategy, f… - Richard Arnold Epstein

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