Probability via Expectation

This book has exerted a continuing appeal since publication of its original edition in 1970. It develops the theory of probability from axioms on the expectation functional rather than on probability measure, demonstrates that the standard theory unrolls more naturally and economically this way, and demonstrates that applications of real interest can be addressed almost immediately. Early analysts of games of chance found the question "What is the fair price for entering this game?" quite as natural as "What is the probability of winning it?" Modern probability virtually adopts the former…