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Example of the optimal Kelly betting fraction, versus expected return of other fractional bets. In probability theory, the Kelly criterion (or Kelly strategy or Kelly bet) is a formula for sizing a sequence of bets by maximizing the long-term expected value of the logarithm of wealth, which is equivalent to maximizing the long-term expected geometric growth rate.
John Larry Kelly Jr. (December 26, 1923 – March 18, 1965), was an American scientist who worked at Bell Labs. From a "system he'd developed to analyze information transmitted over networks," from Claude Shannon's earlier work on information theory , he is best known for his 1956 work in creating the Kelly criterion formula.
In probability theory, Proebsting's paradox is an argument that appears to show that the Kelly criterion can lead to ruin. Although it can be resolved mathematically, it raises some interesting issues about the practical application of Kelly, especially in investing. It was named and first discussed by Edward O. Thorp in 2008. [1]
Kelly betting or proportional betting is an application of information theory to investing and gambling. Its discoverer was John Larry Kelly, Jr. Part of Kelly's insight was to have the gambler maximize the expectation of the logarithm of his capital, rather than the expected profit from each bet. This is important, since in the latter case ...
This is a list of large or well-known interstate or international companies headquartered in the Tulsa Metropolitan Area. As of November 2012, Tulsa was home to one Fortune 1000 and two Fortune 500 companies: Dollar Thrifty Automotive Group, energy companies: ONEOK (#219), and The Williams Companies, Inc. (#342).
Criterion Capital Partners LLC, also known as simply Criterion, was a private equity fund based in Los Angeles, California. [2] It was best known for being the owner of Bebo , from 2010 to 2013. History
I think this is probably what is meant by "Kelly criterion" -- which means that the Kelly criterion is not in fact a formula at all. If that's right then the article should be corrected. Otherwise, it should be explicitly stated which formula is the one called "Kelly criterion." Nathaniel Virgo 01:37, 27 February 2023 (UTC) @Nathanielvirgo
Kevin Easley (born 1960) is an American oil and gas executive who was a leading legislator in the Oklahoma House of Representatives and the Oklahoma Senate for 18 years and the top executive at the Grand River Dam Authority for seven years in the U.S. State of Oklahoma.