Investment and Defense Strategies, Heuristics, and Games: From the Editor …

In our first article, Joseph B. Kadane discusses “Partial-Kelly Strategies and Expected Utility: Small-Edge Asymptotics.” The next article is by Konstantinos V. Katsikopoulos, on “Psychological Heuristics for Making Inferences: Definition, Performance, and the Emerging Theory and Practice.” We then move to papers analyzing strategic national defense. In our third article, David J. Caswell, Ronald A. Howard, and M. Elisabeth Paté-Cornell present “Analysis of National Strategies to Counter a Country's Nuclear Weapons Program.” Next, Kjell Hausken and Jun Zhuang examine “Governments' and Terrorists' Defense and Attack in a T-Period Game.” Finally, Jeryl L. Mumpower analyzes strategy in the sport of squash in “Playing Squash Against Ralph Keeney: Should Weaker Players Always Prefer Shorter Games?” In conclusion, we announce our upcoming special issue on “Games and Decisions in Reliability and Risk.”