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This term has been used to compare a random buy-and-hold strategy to professional traders' records. This same concept has received numerous different names, as the New York Times notes:
135:, who called his theorem Controlled Random Walks. Other, later papers had titles like 'On Pseudo Games', 'How to Play an Unknown Game', 'Universal Coding' and 'Universal Portfolios'".
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127:"In 1957, for example, a statistician named James Hanna called his theorem Bayesian Regret. He had been preceded by
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Controlled random walks, D Blackwell, Proceedings of the
International Congress of Mathematicians 3, 336-338
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Bayesian strategy and that of the optimal strategy (the one with the highest expected payoff).
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The references used may be made clearer with a different or consistent style of
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401:"Pity the Scientist Who Discovers the Discovered"
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192:Learn how and when to remove this message
66:Learn how and when to remove this message
29:This article includes a list of general
311:IEEE Transactions on Information Theory
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50:more precise citations.
354:"Universal Portfolios"
269:Papers in Game Theory
464:Social choice theory
358:Mathematical Finance
459:Bayesian statistics
444:Bayesian estimation
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114:Bayesian inference
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364:(1): 1–29.
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292:2023-06-13
174:footnoting
142:References
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80:stochastic
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378:0960-1627
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331:1557-9654
250:0003-4851
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100:The term
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102:Bayesian
56:May 2021
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