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BOOK REVIEW - Theory of Gambling and Statistical Logic

28 December 1997

Theory of Gambling and Statistical Logic by Richard Epstein (450 pages, paperbound, $29.95)

Originally published in 1967, revised in 1977, and reprinted in 1994 in paperbound, this represents the single most important probability book in print. It sold for $80.00 in hardbound prior to 1994. It is on the advanced level, often requiring a minimum of college level math to comprehend its numerous tables and formulas. Interestingly, the book contains a small chapter on paranormal phenomena (ESP, precognition) and its relationship to those who claim it can influence the game of chance and impact the outcome. Thirty years after its publication, the book stands above all others as a marvelous reference source for serious researchers, whether in the industry or teaching a course in statistics and probabilities.

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