New Books in Science, Technology, and Society cover image

Noah Giansiracusa, "Robin Hood Math: Take Control of the Algorithms That Run Your Life" (Penguin, 2025)

New Books in Science, Technology, and Society

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Understanding Expected Value in Gambling and Insurance

This chapter explores the concept of expected value, emphasizing its relevance in gambling and insurance. By analyzing casino games and insurance models, it reveals how probability theory informs decisions, illustrating the similarities and differences between these two industries.

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