Surprisingly Better than 50-50
Jim Stein, Professor Emeritus of California State University Long Beach, discusses some bets that appear to be 50-50, but can have better odds with a tiny amount of seemingly useless information. Blackwell's Bet involves two envelopes of money. You can open only one. Which one do you choose? We learn about David Blackwell and his mathematical journey amid blatant racism. Another seeming 50-50 bet is guessing which of two unrelated events that you know nothing about is more likely; you can do better than 50-50 by taking just one sample of one of the events. Dr. Stein then discusses how mathematics shows up in some surprising places. Mathematics studied for the pure joy of it often finds surprising uses. He gives some examples from G. H. Hardy as well as his own research.
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