The Mathematics of Money
A fishing trip, an adoptive grandpa, and the reason a bankroll grows: Kelly's 1956 paper read as Shannon's communication model, all the way to G = H(X) − H(X|Y).
Series · 1 part
The Mathematics of Money
Kelly, Shannon and the arithmetic of a growing bankroll — from a fixed coin toss to the general case of arbitrary odds.
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Part 1
The Mathematics of Money