Optimum Stragies for Unfavorable Situation in Red & Black

Title & Authors
Optimum Stragies for Unfavorable Situation in Red & Black
Ahn, Chul H; Sok, Yong-U;

Abstract
In a game called red and black, you can stake any amount s in your possession. Suppose your goal is 1 and your current fortune is ｆ, with 0 < f < 1. You win back your stake and as much more with probability p and lose your stake with probability, q = 1- p. Ahn(2000) considered optimum strategy for this game with the value of p less than $\small{\frac{1}{2}}$ where the house has the advantage over the player. The optimum strategy at any f when p < $\small{\frac{1}{2}}$ is to play boldly, which is to bet as much as you can. In this paper we perform the simulation study to show that the Bold strategy is optimum.
Keywords
Ruin problem;stochastic process;simulation;
Language
Korean
Cited by
1.
이산형 적흑게임에서 유리한 경우의 최적전략,석영우;안철환;

한국국방경영분석학회지, 2004. vol.30. 1, pp.70-80
2.
이산형 적흑게임에서 p<1/2인 경우의 최적전략,석영우;

한국국방경영분석학회지, 2005. vol.31. 1, pp.122-129
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