Posted by Bisser on July 15, 1997 at 18:08:48: In Reply to: Re: This is the million dollar question! posted by David D'Aquin on July 15, 1997 at 17:48:55:
This result seems quite interesting. If in fact Kelly betting asymptotically dominates every other betting scheme over the entire distribution of outcomes, then it would be the only reasonable scheme to use in a long term play.Domination over the entire distribution will make any arbitrary criteria (like taking expectation or log of growth rate) absolutely irrelevant, since it will be preserved over the entire distribution of every monotonic transformation.
Bisser
- Re: This sounds like a great reason to use Kelly... David D'Aquin 21:06:55 7/15/97 (0)