Solving Daniel Bernoulli’s St Petersburg paradox: The paradox which is not and never was
It has been accepted for over 270 years that the expected monetary value (EMV) of the St Petersburg game is infinite. Accepting this leads to a paradox; no reasonable person is prepared to pay the predicted large sum to play the game but will only pay, comparatively speaking, a very moderate amount....
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| Format: | Article |
| Language: | English |
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AOSIS
2003-06-01
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| Series: | South African Journal of Economic and Management Sciences |
| Online Access: | https://sajems.org/index.php/sajems/article/view/3317 |