Squares & Sharps, Suckers & Sharks

Download or read book Squares & Sharps, Suckers & Sharks written by Joseph Buchdahl and published by Oldcastle Books. This book was released on 2016-05-27 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: People have been gambling, in one form or another, for as long as history itself. Why? Money, entertainment, escape and a desire to win are all traditional explanations. Arguably, however, these are secondary considerations to a higher order purpose: a craving for control. Gambling offers a means of gaining authority over the unknown, granting us a sense of control over uncertainty. Almost always that sense is illusionary - gambling, including betting and investing, is essentially random - yet for many it is nonetheless profoundly rewarding. This book attempts to explore the reasons why. Along the way, it examines: The science of probability and uncertainty; Why gambling is often condemned; The difference between expectation and utility; The irrationality of human beings; Evolutionary perspectives on gambling; Luck and skill; Market efficiency and the wisdom of crowds; Why winners take all; Cheating; Why the process matters more than the outcome.