Richard Arnold Epstein

Quotes

• “In our most Puritan of society, gambling-like other pleasures-is either taxed, restricted to certain hours, or forbidden altogether. Yet the impulse to gamble remains an eternal aspect of the irrationality of man. It finds outlets in business, war, politics, in the formal overtures of the gambling casinos, and in the less ceremonious exchanges among individuals of differing opinions.”
• “Shortly after pithecanthropus erectus gained the ascendancy, he turned his attention to the higher-order abstractions.”
• “"Breaking the bank at Monte Carlo" is a euphemism for closing a single gaming table. It was last accomplished at the Casino Ste. des Bains de Mer during the final days of 1957, with a harvest of 180 million francs.”
• “In general statistics can be considered as the offspring of the theory of probability, it builds on its parent and extends the area of patronymic jurisdiction.”
• “A proven theorem of game theory states that every game with complete information possesses a saddle point and therefore a solution.”
• “The essence of the phenomenon of gambling is decision making. The act of making a decision consists of selecting one course of action, or strategy, from among the set of admissible strategies.”

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