The Logic of Chance, 3rd edition: An Essay on the Foundations and Province of the Theory of Probability, With Especial Reference to Its Logical Bearings and Its Application to Moral and Social Science and to StatisticsVenn, John
Philosophy
The Logic of Chance, 3rd edition: An Essay on the Foundations and Province of the Theory of Probability, With Especial Reference to Its Logical Bearings and Its Application to Moral and Social Science and to Statistics
Venn, John
Chance; Logic, Symbolic and mathematical; Probabilities; Science -- Methodology
It still remains true that whereas in
ordinary gambling, i.e. with fixed or haphazard stakes, A could
not ensure winning eventually to any extent, he can
do so if he adopt such a scheme as the one in question. And
this is the state of things which seems to call for explanation.
14. What causes perplexity here is the supposed fact
that in some mysterious way certainty has been conjured out
of uncertainty; that in a game where the detailed events are
utterly inscrutable, and where the average, by supposition,
shows no preference for either side, one party is nevertheless
succeeding somehow in steadily drawing the luck his own
way. It looks as if it were a parallel case with that of a
man who should succeed by some device in permanently
securing more than half of the tosses with a penny which
was nevertheless to be regarded as a perfectly fair one.
This is quite a mistake. The real fact is that A does
not expose his gains to chance at all; all that he so exposes
is the number of times he has to wait until he gains. Put
such a case as this. I offer to give a man any sum of money
he chooses to mention provided he will at once give it back
again to me with one pound more. It does not need much
acuteness to see that it is a matter of indifference to me
whether he chooses to mention one pound, or ten, or a
hundred. Now suppose that instead of leaving it to his
choice which of these sums is to be selected each time, the
two parties agree to leave it to chance. Let them, for
instance, draw a number out of a bag each time, and let that
be the sum which A gives to B under the prescribed conditions.
The case is not altered. A still gains his pound each
time, for the introduction of the element of chance has not
in any way touched this. All that it does is to make this
pound the result of an uncertain subtraction, sometimes 10
_minus_ 9, sometimes 50 _minus_ 49, and so on. It is these
numbers only, not their difference, which he submits to luck,
and this is of no consequence whatever.
Public-domain text, read in full here on John Shaqi.
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