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BGonline.org Forums
Mathematics of cube decisions relative to bankroll
Posted By: AdamStocks In Response To: Mathematics of cube decisions relative to bankroll (Rod)
Date: Thursday, 9 May 2013, at 11:09 p.m.
Bankroll management (BM) theory can be subdivided into two categories - a) 'Classical' BM (including Kelly Criterion etc) and b) 'Real World' BM. The problem with classical BM is that it doesn't take into account the diminishing marginal utility of each unit of money, which distorts the normal classical BM maths to the point of almost uselessness. The marginal utility isn't graph even smooth, and is unique to each individual gamer, so your 'Touchy-Feely' approach probably gives a better guide in practice. Douglas Zare wrote some interesting stuff on this in GammonVillage about a decade ago.
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