Suppose that each of two gamblers A and B has an initial
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Suppose that each of two gamblers A and B has an initial fortune of 50 dollars, and that there is probability p that gam
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Suppose that each of two gamblers A and B has an initial fortune of 50 dollars, and that there is probability p that gambler A will win on any single play of a game against gambler B. Also, suppose either that one gambler can win one dollar from the other on each play of the game or that they can double the stakes and one can win two dollars from the other on each play of the game. Under which of these two conditions does A have the greater probability of winning the initial fortune ofB before losing her own for each of the following conditions: (a) p < 1/2; (b) p > 1/2; (c) p = 1/2?
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