Tuesday, August 26, 2014

A "Poker Showdown" on Andrew Gelman's blog and the problems with applying "Risk of Ruin" to poker

The two main influences on my poker presentation from 2012, primarily Chen and Ankenman's Mathematics of Poker, and secondarily my friend Rick Schoenberg's Introduction to Probability with Texas Hold'em Examples (in which I am quoted deriding Sklanksy's Fundamental Theorem of Poker as being neither fundamental nor a theorem), have been pitted against each other based on the latter's criticism of the former's misapplication of a mathematical identity involving with regards to the Risk of Ruin, featured in a post on the widely read statistics blog by Andrew Gelman.