A World of Chance
Betting on Religion, Games, Wall Street
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16 195 Ft
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Estimated delivery time: In stock at the publisher, but not at Prospero's office. Delivery time approx. 3-5 weeks.
Not in stock at Prospero.
Why don't you give exact delivery time?
Delivery time is estimated on our previous experiences. We give estimations only, because we order from outside Hungary, and the delivery time mainly depends on how quickly the publisher supplies the book. Faster or slower deliveries both happen, but we do our best to supply as quickly as possible.
Product details:
- Edition number 2 Rev ed
- Publisher Cambridge University Press
- Date of Publication 4 August 2008
- ISBN 9780521711579
- Binding Paperback
- No. of pages358 pages
- Size 229x152x25 mm
- Weight 540 g
- Language English
- Illustrations 6 tables 0
Categories
Short description:
This book shows how some societies created more chances for their members than others and, as a result, prospered.
MoreLong description:
Although financial markets often try to distance themselves from gambling, the two factors have far more in common than usually thought. When, historically, there were no financial institutions such as banks, lotteries constituted the ways by which expensive items were disposed of, and governments raised money quickly. Gambling tables fulfilled roles that venture capital and banking do today. 'Gamblers' created clearinghouses and sustained liquidity. When those gamblers bet on price distributions in futures markets, they were redefined as 'speculators'. Today they are called 'hedge fund managers' or 'bankers'. Though the names have changed, the actions undertaken have essentially stayed the same. This book shows how discussion on 'chance', 'risk', 'gambling', 'insurance', and 'speculation' illuminates where societies stood, where we are today, and where we may be heading.
'Did you know that the modern insurance industry is a direct outgrowth of gambling? Did you know that poker provided one of the most important sources of capital for penniless Western frontiersmen in the United States? Did you know that major opera houses of Europe began as gambling halls with the theaters attached (history, if not always the quality of music, repeats itself in Las Vegas)? Do you know the real reason the NFL resists the legalization of sports betting in America? For the fascinating answers and insights into the politics, the finance and the economics of that over-maligned pastime, gambling, and, yes, including the surprising role it has frequently played in finance - read A World of Chance. The odds are strong that you will love it.' Henry G. Manne, Dean Emeritus, George Mason Law School
Table of Contents:
1. From religion to risk management - what do you do when facing uncertainty?; 2. Anything wrong with gambling as a pastime?; 3. Are you rich? Risk-taking, gambling, and the leapfrogging instinct; 4. Betting on futures; 5. Gambling - as banking: poker, junk bonds and central banks; 6. 'Lottery is a taxation, and Heav'n be prais'd, it is easily rais'd'; 7. Politics and prohibitions, or, what's a good tax anyway?; 8. How gamblers and risk-takers correct the future; Appendix 1. Gambling and risk-taking: the leapfrogging instinct; Appendix 2. Human nature and the 'civilizing' process; Appendix 3. A statistical profile of gamblers.
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