Kelly criterion for bug hunting?
A half-formed hunch: allocating research time across targets is a bankroll problem, and Kelly might be the right lens.
Probability, betting, and markets as adversarial systems.
A half-formed hunch: allocating research time across targets is a bankroll problem, and Kelly might be the right lens.
Two ideas hold up the whole field, and neither is a crystal ball: a tiny statistical edge run thousands of times, and not blowing up before it pays. The model I'm using so I stop treating the market like a fortune to be told.
My brain wants quant to be a slot machine, which is the exact wrong instinct. So before any math: bury the get-rich fantasy, trade paper money only, and treat the whole thing as probability and risk instead of fortune-telling.
In a room of just 23 people, it's better than even odds that two share a birthday. The Birthday Paradox, and why your brain is hopeless at counting pairs.
Imagine an invisible scoreboard over your head: buy a friend a mango, +5; be cruel, −50. The catch is nobody handed you the rulebook. A tour of ethics: consequentialism, deontology, virtue ethics, and moral luck.
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