Squares And Sharps, Suckers And Sharks Av Joseph Buchdahl

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