This is the St. Petersburg paradox, discussed here from time to time.
It isn’t really very much like the St. Petersburg paradox. The St. Petersburg game runs for a random length of time, you don’t choose whether to continue; the only choice you make is at the beginning of the game where you decide how much to pay.
Or is it equivalent in some subtle way?
This is the St. Petersburg paradox, discussed here from time to time.
It isn’t really very much like the St. Petersburg paradox. The St. Petersburg game runs for a random length of time, you don’t choose whether to continue; the only choice you make is at the beginning of the game where you decide how much to pay.
Or is it equivalent in some subtle way?