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Gambling Problems

  • Nicolas Privault
Part of the Springer Undergraduate Mathematics Series book series (SUMS)

Abstract

This chapter consists in a detailed study of a fundamental example of random walk that can only evolve by going up of down by one unit within the finite state space {0,1,…,N}. This allows us in particular to have a first look at the technique of first step analysis that will be repeatedly used in the general framework of Markov chains, particularly in Chapter  6.

Copyright information

© Springer Science+Business Media Singapore 2013

Authors and Affiliations

  • Nicolas Privault
    • 1
  1. 1.School of Physical and Mathematical SciencesNanyang Technological UniversitySingaporeSingapore

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