Applying chaos theory to risk management in a game of chance

• Autorzy: Jóźwiak Ireneusz J. , Mariański Aleksander , Switana Jan , Szczepanik Michał

Identyfikatory

DOI

10.29119/1641-3466.2020.144.16

• Języki publikacji: EN

Abstrakty

EN

Purpose: The purpose of the paper is to illustrate the usage of techniques known from chaos theory to analyze the risk Design/methodology/approach: In this case the objects of application are winnings graphs of different poker players. Two types of players are presented; winning players (those with positive expected value) and breaking even players (expected value close to zero). Findings: Charts were analyzed with a fractal dimension calculated with the box method. Originality/value: Relation between fractal dimension and Hurst exponent is shown. Relation between risk in sense of chaos theory and players’ long-term winning is also described. Further applications of chaos theory to analyze the risk in games of chance are also proposed.

Słowa kluczowe

EN

risk analysis; game theory; gambing games; chaos theory; fractal dimension

PL

ocena ryzyka; teoria gier; gry hazardowe; teoria chaosu; wymiar fraktalny

• Wydawca: Wydawnictwo Politechniki Śląskiej
• Czasopismo: Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska
• Rocznik: 2020
• Tom: z. 144
• Strony: 195--211
• Opis fizyczny: Bibliogr. 21 poz.

Twórcy

autor

Jóźwiak Ireneusz J.

• Wroclaw University of Science and Technology, Faculty of Computer Science and Management, Wrocław

autor

Mariański Aleksander

• Wroclaw University of Science and Technology, Faculty of Computer Science and Management, Wrocław

autor

Switana Jan

• Wroclaw University of Science and Technology, Faculty of Mechanics, Wrocław

autor

Szczepanik Michał

• Wroclaw University of Science and Technology, Faculty of Computer Science and Management, Wrocław

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Uwagi

Opracowanie rekordu ze środków MNiSW, umowa Nr 461252 w ramach programu "Społeczna odpowiedzialność nauki" - moduł: Popularyzacja nauki i promocja sportu (2020).