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Re:Gambler’s Ruin Problem [pdf] by hansvm on Saturday October 01, 2022 @10:28PM (#33052242)
The main difference is that Kelly has a multiplicative assumption and the paper has an additive assumption. The Kelly criterion is often computed as a proportion of the initial bankroll, whereas this paper handles non-zero chances of losing a _fixed_, positive amount of money (i.e., a varying proportion of your bankroll, and that proportion increases precisely when you would least want it to -- when you're doing poorly).

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