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In psychology, game theory, statistics, and machine learning, win–stay, lose–switch (also win–stay, lose–shift) is a heuristic learning strategy used to model learning in decision situations. It was first invented as an improvement over randomization in bandit problems . [ 1 ]
The wise decision is to wager that God exists, since "If you gain, you gain all; if you lose, you lose nothing", meaning one can gain eternal life if God exists, but if not, one will be no worse off in death than if one had not believed. On the other hand, if you bet against God, win or lose, you either gain nothing or lose everything.
The irresistible force paradox (also unstoppable force paradox or shield and spear paradox), is a classic paradox formulated as "What happens when an unstoppable force meets an immovable object?" The immovable object and the unstoppable force are both implicitly assumed to be indestructible, or else the question would have a trivial resolution.
In gambling parlance, making a book is the practice of laying bets on the various possible outcomes of a single event. The phrase originates from the practice of recording such wagers in a hard-bound ledger (the 'book') and gives the English language the term bookmaker for the person laying the bets and thus 'making the book'.
Daniel Kahneman, who won the 2002 Nobel Memorial Prize in Economics for his work developing prospect theory. Prospect theory is a theory of behavioral economics, judgment and decision making that was developed by Daniel Kahneman and Amos Tversky in 1979. [1]
Within social psychology, BIRGing is thought to enhance self-esteem and to be a component of self-management. [ 1 ] BIRGing has connections to social identity theory , which explains how self-esteem and self-evaluation can be enhanced by the identification with another person's success through basking in reflected glory that is not earned. [ 6 ]
If a win–win scenario is not achieved, the scenario becomes a lose–lose situation by default, since it had caused failure for at least one of the parties. While she did not coin the term, Mary Parker Follett 's process of integration described in her book Creative Experience (Longmans, Green & Co., 1924) forms the basis of what we now refer ...
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