Section 2.3, "Analysis of p" is incomplete. The ideal value is 1/e. In most practical applications, you want to start with setting it to 1/e, which is a good speed/memory tradeoff. I tried for years to get Redis and some widely-used libraries to update their default values for everyone's benefit, as this one of my favorite data structures.

Ref: http://www.sciencedirect.com/science/article/pii/03043975940...