Betting on Quantum Theory

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Betting (or gambling) is a useful tool for studying decision-making in the face of [classical] uncertainty. We would like to understand how a quantum "agent" would act when faced with uncertainty about its [quantum] environment. I will present a preliminary construction of a theory of quantum gambling, motivated by roulette and quantum optics. I'll begin by reviewing classical gambling and the Kelly Criterion for optimal betting. Then I'll demonstrate a quantum optical version of roulette, and discuss some of the challenges and pitfalls in designing such analogues. Quantum agents have access to many more strategies than classical agents. Quantum strategies provide no advantage in classical roulette, but I'll show that a quantum agent can outperform a classical agent in quantum roulette.