Smith Colloquium

October 8, 2020

Glenn Shafer, Rutgers University

Title: Testing by Betting and the Randomness of Risk

Abstract: Before it was a theory of probability, mathematical probability was a theory of betting. Before they were sequences of random variables, martingales were strategies for betting. By looking at the matter this way once more, we gain insights into statistical testing and the behavior of entrepreneurs. This talk with touch on the May 2019 book Game-Theoretic Foundations for Probability and Finance and on recent working papers at