On a Review by V. N. Tutubalin
Valery Nikolaevich Tutubalin, of the Department of Probability Theory at Moscow University, has recently reviewed our book, Probability and Finance: It’s Only a Game! (Wiley, 2001). It is our understanding that his review will appear in Russian in “Teori vero tnoste i ee primeneni ”, the Russian journal that is regularly translated into English as Theory of Probability and Its Applications. Professor Tutubalin raises important questions about the range of usefulness of our book’s game-theoretic framework for probability. In this response, we discuss his questions in some detail. We have translated the review into English, and with Professor Tutubalin’s permission we have posted both the Russian text and our translation at the web site for our book, http://www.cs.rhul.ac.uk/~vovk/book/. This response can also be downloaded from there.