Rooting for the Favorite

Imagine this hypothetical scenario: The Patriots have advanced to the AFC Championship game against the Chiefs and are waiting to see who will play the Falcons in the NFC Championship game. The Eagles are playing the Packers in the divisional round for the right to play the Falcons in the...

Insuring the Indians’ Win Streak

ESPN recently ran an article about an Ohio-based window company that guaranteed any of its customers who installed windows (the kind that makes walls transparent, not the PC operating system), siding, or doors in the month of July would have their money returned if the Cleveland Indians had a 15-game...

Poker Quiz #1: Expected Value

The idea of expected value is one that comes up often in poker and trading discussions. Expected value is the sum of the probability of each possible event times that event’s payoff. For example, if you were to flip a fair coin where you got paid $2 for heads and lost...
Overtime: The Unconventional Decision to Kick

Overtime: The Unconventional Decision to Kick

On December 27, 2015, the New England Patriots and the New York Jets were tied 20-20 after regulation and were headed to overtime. The Patriots won the coin toss and elected to kick off rather than receive the ball first. The decision startled the broadcasters, and most of America for...