Registered: Mar 2010
02-13-12 09:59 AM
Quote from ElectricSavant:
so is gambling or not gambling an illusion?...is it what we say?....is there an absolute or does the dictionary decide?
A subjectivist might say that is "gambling" in the measure you feel so, according to your current state of "knowledge" specific to the phenomenon and according to the ratio uncertainty/capital.
Lower state of such a "knowledge" and higher uncertainty will increase the variance of the outcome. Relatively smaller capital will make you less able to cope with higher uncertainty.
Discussing in these terms is pretty recreative as anybody can say whatever thought pass through his mind.
If you want to proceed in more scientific and rational terms, you should first create a (possibly simplified) model where you begin by defining your terms, your hypotheses and then you are more likely to make a service to a deeper understanding.
"game", "gambling", "strategy" (are we using a strategy?, how we define it?), capital, space of price trajectories, market, etc.
You must first have a basic definition of terms of the discussion. Here the general impression is that anyone is using a different version of various concepts.