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

CHAPTER XV.

Chapter 1571 wordsPublic domain

INSURANCE AND GAMBLING.

§§ 1, 2. The certainties and uncertainties of life. 3-5. Insurance a means of diminishing the uncertainties. 6, 7. Gambling a means of increasing them. 8, 9. Various forms of gambling. 10, 11. _Comparison between these practices._ 12-14. Proofs of the disadvantage of gambling:-- (1) on arithmetical grounds: 15, 16. _Illustration from family names._ 17. (2) from the 'moral expectation'. 18, 19. _Inconclusiveness of these proofs._ 20-22. _Broader questions raised by these attempts._