Ralph Vince – Risk-Opportunity Analysis
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Every day, billions of people make thousands of judgments that do not appear to be based on the same, presumably reasonable mathematical concepts that they would apply in a gambling or investment situation. However, these judgments are not illogical; rather, they are the result of an intrinsic sense of danger and opportunity in relation to the exigency of ever-present time. For decades, different mathematical concepts have emerged that, while useful to topics like as probability, game theory, operations research, and quantitative finance, lie largely beyond the scope of these disciplines. However, the principles discussed in this literature are all connected and, when combined, form its own niche-discipline known as Risk-Opportunity Analysis.
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