Is There Such a Thing as Luck?

[WickedLester]

I'm sorry if this has been discussed before but I wondered if there were scientific theories of luck?

A simple example; the National Lottery. There are a fixed number of numbers to choose from and a fixed number of balls. The odds may be low that your numbers come in but it's also got a probability. Some weeks there may be 2 winners, were they both lucky or unlucky? If it's probable that your numbers will come up eventually, should you really consider yourself lucky?

[Imbiber]

“you’ve gotta ask yourself one question: “Do I feel lucky?” Well, do ya, punk?”

I'll get me coat...

[Lootman]

“you’ve gotta ask yourself one question: “Do I feel lucky?” Well, do ya, punk?”

I'll get me coat...

There is no such thing as luck or coincidence.

Gary Player: "The more I practice, the luckier I get".

[stewamax]

<pedant>
Assume you start with a view that you are moderately* lucky (compared with others).
You then check the actual odds on winning and modify your view.
Your new view is given by Bayes’ Theorem (q.v.)
</pedant>

* whatever that means

[tacpot12]

Luck and coincidence must exist as concepts otherwise we wouldn't have words to describe them.

'Luck' is a change outcome that is favourable. The study of statistics will tell you the likelihood of a particular chance outcome, but it is upto the human mind to decide if this is a lucky, unlucky or neutral outcome.

[Lootman]

Luck and coincidence must exist as concepts otherwise we wouldn't have words to describe them.

Unicorns exist as a concept. But the fact that that word exists does not mean that unicorns exist in any material sense.

[Gerry557]

I'm sorry if this has been discussed before but I wondered if there were scientific theories of luck?

A simple example; the National Lottery. There are a fixed number of numbers to choose from and a fixed number of balls. The odds may be low that your numbers come in but it's also got a probability. Some weeks there may be 2 winners, were they both lucky or unlucky? If it's probable that your numbers will come up eventually, should you really consider yourself lucky?

I've not read any or even looked for some scientific examples.

I haven't won the lottery but maybe it was lucky that I didn't. I might have bought myself a Kawasaki Ninja and wrapped myself around a tree. That bad luck of hitting another red light might have made me late but stopped me colliding with that truck.

Luck or fate or a bit of both. As for unicorns, I spent some money buying cuddly things in there image so to some people they do exist.

[jfgw]

Luck exists, how could it not?

Some people win the Lotto jackpot; how is that not being lucky? I cannot see how there can be a predisposition to being lucky, it is down to chance, but you can increase your chance of being lucky by buying more tickets. It is still primarily down to luck though (unless you spend enough millions on tickets, but luck will still be a factor, even if not primarily so).

Coincidence is, statistically, almost certain. If there are billions of events with a one-in-a-million chance of some sort of coincidence, there will be a lot of coincidences.

Coincidence is not necessarily a chance event. You read a vernier scale by seeing which lines coincide.


Julian F. G. W.

[Urbandreamer]

“you’ve gotta ask yourself one question: “Do I feel lucky?” Well, do ya, punk?”

I'll get me coat...

There is no such thing as luck or coincidence.

Gary Player: "The more I practice, the luckier I get".

I would claim that is a great example of an argument that luck actually does exist.
I am less lucky than Mr Player because not only do I not practice, but I don't play his game.

I am "lucky" on the stock market, because I accept the risk/reward investing in companies. I also practice and study to increase the favorable outcomes and reduce the unfavorable.

[odysseus2000]

A typical mantra in New York trading classes is:

Luck is when preparation meets opportunity.

Regards,

[Dicky99]

A typical mantra in New York trading classes is:

Luck is when preparation meets opportunity.

Regards,

Can that be applied to finding a tenner in the street...

[Urbandreamer]

A typical mantra in New York trading classes is:

Luck is when preparation meets opportunity.

Regards,

Can that be applied to finding a tenner in the street...

Or indeed finding coins. Dare I point out that 5 years ago that was not uncommon in the UK as others threw them away?
https://uk.finance.yahoo.com/news/brits ... ccounter=1

Having the for thought to check the ground when exiting a shop or supermarket could be "lucky".

[Lootman]

A typical mantra in New York trading classes is:

Luck is when preparation meets opportunity.

Can that be applied to finding a tenner in the street...

Luck or being more observant and aware of one's surroundings?

I think the word "luck" is mostly used by people who cannot understand what just happened, and so then rationalise it by introducing a notion of randomness.

"Luck is the idol of the idle".

[odysseus2000]

Warren Buffett on luck(5:32):

https://youtu.be/5zT-kqhPjyI?si=ulzLyYXv-b0EUgB4

Regards,

[Nimrod103]

I read many years ago of an experiment carried out by a university somewhere, where the researchers selected two groups, one described themselves as lucky and the control group as just normal. They gave the two groups newspapers to read, and asked them to look for particular stories. They also embedded an article (without telling them) which stated that if the subjects found that article they could win a prize. They found the self describing lucky ones usually found the prize article, but the control didn’t. They concluded from this that “lucky” people tend to take a broader overview and read other things in the newspaper than the specific article they were asked to find. I.e. they enhance their chances of being lucky.

[jfgw]

Can that be applied to finding a tenner in the street...

Luck or being more observant and aware of one's surroundings?

Some of each. If there is a tenner in the street ready to be found, that is luck. If you spot it because you are more observant and aware of your surroundings, that is not luck. The fraction that is luck depends upon a number of factors.


Julian F. G. W.

[Lootman]

Luck or being more observant and aware of one's surroundings?

Some of each. If there is a tenner in the street ready to be found, that is luck. If you spot it because you are more observant and aware of your surroundings, that is not luck. The fraction that is luck depends upon a number of factors.

Opportunities are everywhere. That might be random.

Seeing them and taking advantage of them is not at all random or "lucky".