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GamblersRuin

# GamblersRuin - total number of iterations Analytic Solution...

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GAMBLER’S RUIN in a FAIR GAME

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Gambler’s Ruin in a Fair Game In a fair game, let player A has a fortune of k and player B has a fortune of l . At each iteration of the game, the winner takes one unit from the loser. The game ends when one player loses everything. What is the probability that player A will lose everything? What is the expected duration of the game in terms of
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Unformatted text preview: total number of iterations? Analytic Solution vs. Simulation Applying “First Step Analysis” Player A will lose everything with probability The mean duration of the game is What about simulation results for k = 4 and l = 6? A typical game Estimation after 1 Million Games l k l + lk...
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GamblersRuin - total number of iterations Analytic Solution...

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