News for hackers. Stuff that matters.
Re:Kelly Criterion by justinpowers on Friday April 16, 2021 @12:16PM (#26835778)
Each toss is independent of prior (and subsequent) tosses, so no matter what, a given tosshas 60% chance of landing heads. Rationally, one should bet heads on any given toss.

But most people would agree with the irrational bet. This tendency is known as the Gambler’s fallacy (https://en.wikipedia.org/wiki/Gambler's_fallacy).

There are no comments on this comment yet.