Decision Making

Download E-books A World of Chance: Betting on Religion, Games, Wall Street PDF

By Reuven Brenner, Aaron Brown

Even though monetary markets usually try and distance themselves from playing, the 2 components have way more in universal than often concept. whilst, traditionally there have been no monetary associations similar to banks, lotteries constituted the methods wherein pricey goods have been disposed of, and governments raised cash fast. playing tables fulfilled roles that enterprise capital and banking do this day. "Gamblers" created clearinghouses and sustained liquidity. whilst these gamblers wager on rate distributions in futures markets, they have been redefined as "speculators." this day they're known as "hedge fund managers" or "bankers." notwithstanding the names have replaced, the activities undertaken have primarily stayed an analogous. This ebook exhibits how dialogue on "chance," "risk," "gambling," "insurance," and "speculation" illuminates the place societies stood, the place we're this present day, and the place we should be heading.

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