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Émile Borel

“It has been said that, given two bettors, there is always one thief and one imbecile; that is true in certain cases when one of the two bettors is much better informed than the other, and knows it; but it can easily happen that two men of good faith, in complex matters where they possess exactly the same elements of information, arrive at different conclusions on the probabilities of an event, and that in betting together, each believes…that it is he who is the thief and the other the imbecile.”


Emile Borel
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