High Stakes | Akateeminen Kirjakauppa

People have been gambling, in one form or another, for as long as history itself. Why? Money, entertainment, escape and a desire to win are all traditional explanations. Arguably, however, these are secondary considerations to a higher order purpose: a craving for control. Gambling offers a means of gaining authority over the unknown, granting us a sense of control over uncertainty. Almost always that sense is illusory - gambling, including betting and investing, is essentially random - yet for many it is nonetheless profoundly rewarding. This book attempts to explore the reasons why.

Along the way, it examines:



The science of probability and uncertainty
Why gambling is often condemned
The difference between expectation and utility
The irrationality of human beings
Evolutionary perspectives on gambling
Luck and skill
Market efficiency and the wisdom of crowds
Why winners take all
Cheating
Why the process matters more than the outcome