The St. Petersburg paradox despite risk-seeking preferences: an experimental study
Abstract The St. Petersburg paradox is one of the oldest challenges of expected value theory. Thus far, explanations of the paradox aim at small probabilities being perceived as zero and the boundedness of utility of the outcome. This paper provides experimental results showing that neither diminish...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Springer
2018-10-01
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| Series: | Business Research |
| Subjects: | |
| Online Access: | http://link.springer.com/article/10.1007/s40685-018-0078-y |