HEY BLACK FRIDAY, TAKE A BREATHER!
Although many have speculated on the history of the term “Black Friday,” […]
Deborah J. Bennett
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To acquire a (correct) intuition of chance is not easy to begin with, and moving from an intuitive sense to a formal notion of probability presents further problems. Author Deborah Bennett traces the path this process takes in an individual trying to come to grips with concepts of uncertainty and fairness, and also charts the parallel path by which societies have developed ideas about chance. Why, from ancient to modern times, have people resorted to chance in making decisions? Is a decision made by random choice "fair"? What role has gambling played in our understanding of chance? Why do some individuals and societies refuse to accept randomness at all? If understanding randomness is so important to probabilistic thinking, why do the experts disagree about what it really is? And why are our intuitions about chance almost always dead wrong?
Anyone who has puzzled over a probability conundrum is struck by the paradoxes and counterintuitiveresults that occur at a relatively simple level. Why this should be, and how it has been the case through the ages, for bumblers and brilliant mathematicians alike, is the entertaining and enlightening lesson of "Randomness,"
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