thorp

But after Thorp demonstrated it was beatable there was a surge in demand for blackjack.

Turned out Shannon was more interested in the analysis of a few gambling games that Thorp had thrown in the conversation.

Ed Thorp built a wearable with Claude Shannon (as in Information Theory) in 1961!

Yes Thorp had secured a hard to schedule meeting with Shannon regarding his research.

Edward Thorp is a mathematician who did a lot of analysis about blackjack over 50 years ago.[1] He's a seminal figure in this field.

Note that the Black-Scholes model won the Nobel (Memorial) Prize in Economics -- and was developed six years after Thorp started trading with it.

I believe Thorp described this about roulette wheels.

There are some ties to people like Jer Thorp who also manages to somehow mention his own Twitter handle in tweets as if it might get lost out there that he indeed tweeted whatever it was, anyway, it gets very tedious to watch the the rolling wave of new people that get suckered in to the scheme.

Does anyone have a copy of this paper ("The Kelly Criterion and the Stock Market" Louis M Rotando, Edward O Thorp, The American Mathematical Monthly (1992) vol.

Thorp's work (among others) led to increased casino profits and lent an air of legitimacy to gambling; it wasn't just luck anymore, if you "worked" at it you could profit.

We have to call Edward Thorp an "American" because we don't know about his "theories" (c.f.

The Kelly Criterion is controversial (proponents of utility theory hate it) but has been used in financial situations (see: "The Kelly Criterion and the Stock Market" Louis M Rotando, Edward O Thorp, The American Mathematical Monthly (1992) vol.

Edward Thorp, while a math professor at MIT, was the first to do a rigorous analysis of card counting.

This reminds me of an anecdote out of one of Thorp's papers (2007).

Thorp in 2008.[1] The paradox was named for Todd Proebsting, its creator.