Daniel Lemire's blog

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What is a useful theory?

One thought on “What is a useful theory?”

  1. qznc says:

    Probabilities are not useful? You can get away with just combinatorics with the Monty Hall problem, but can you build on it?

    Here is the game: You play Monty Hall. You will win the car (worth $100k) in 2 of 3 cases. However, you must pay a bet to play. How large a bet would you pay?

    Next step: You play a series of Monty Hall Bets, but your wallet is limited. How much would you bet now? (see Kelly Criterion)

    To compute this, you need the value 2/3. How would you call it? Maybe “probability”?