Statistical inference might be thought of as gambling theory applied to the world around us. The myriad applications for logarithmic information measures tell us precisely how to take the best guess in the face of partial information.[1] In that sense, information theory might be considered a formal expression of the theory of gambling. It is no surprise, therefore, that information theory has applications to games of chance.[2]
^Jaynes, E.T. (1998/2003) Probability Theory: The Logic of Science (Cambridge U. Press, New York).
^Kelly, J. L. (1956). "A New Interpretation of Information Rate" (PDF). Bell System Technical Journal. 35 (4): 917–926. doi:10.1002/j.1538-7305.1956.tb03809.x. Archived from the original (PDF) on 2019-04-27. Retrieved 2019-09-05.
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