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
This is quite fallacious (as had been noticed by Laplace,
in his _Essai_); and there could not be a better instance
chosen than this to show just what we can do and what we
cannot do in the way of altering the luck in a real chance-succession
of events. To suppose that the number of actual
births could be influenced in the way in question is exactly
the same thing as to suppose that a number of gamblers
could increase the ratio of heads to tails, to something over
one-half, by each handing the coin to his neighbour as soon
as he had thrown a head: that they have only to leave off as
soon as head has appeared; an absurdity which we need not
pause to explain at this stage. The essential point about
the 'Martingale' is that, whereas the occurrence of the
events on which the stakes are laid is unaffected, the stakes
themselves can be so adjusted as to make the luck swing one
way.
18. In the second place, this example brings before us
what has had to be so often mentioned already, namely, that
the series of Probability are in strictness supposed to be
interminable. If therefore we allow either party to call
upon us to stop, especially at a point which just happens to
suit him, we may get results decidedly opposed to the
integrity of the theory. In the case before us it is a necessary
stipulation for A that he may be allowed to leave off
when he wishes, that is at one of the points at which the
throw is in his favour. Without this stipulation he may be
left a loser to any amount.
Introduce the supposition that one party may arbitrarily
call for a stoppage when it suits him and refuse to permit it
sooner, and almost any system of what would be otherwise fair
play may be converted into a very one-sided arrangement.
Indeed, in the case in question, A need not adopt this device
of doubling the stakes every time he loses. He may play
with a fixed stake, and nevertheless insure that _one_ party
shall win any assigned sum, assuming that the game is even
and that he is permitted to play on credit.
19. (V.) A common mistake is to assume that a very
unlikely thing will not happen at all. It is a mistake which,
when thus stated in words, is too obvious to be committed,
for the meaning of an unlikely thing is one that happens at
rare intervals; if it were not assumed that the event would
happen sometimes it would not be called unlikely, but impossible.
This is an error which could scarcely occur except
in vague popular misapprehension, and is so abundantly refuted
in works on Probability, that it need only be touched
upon briefly here. It follows of course, from our definition
of Probability, that to speak of a very rare combination of
events as one that is 'sure never to happen,' is to use language
incorrectly. Such a phrase may pass current as a
loose popular exaggeration, but in strictness it involves a
contradiction. The truth about such rare events cannot be
better described than in the following quotation from De Morgan:[6]--
Public-domain text, read in full here on John Shaqi.
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