Art of Decision-Making

Suppose you had the chance to invest in a venture that succeeds half the time. When you fail you lose your in­ vestment; when you succeed you make a profit of$1.60 for every $1.00 you invest. The odds are 8 to 5 in your favor and you should do well-casinos and insurance companies thrive under less favorable conditions. If you can invest as much as you like, as often as you like, using a betting sy...