#139 – Alan Hájek on puzzles and paradoxes in probability and expected value
A casino offers you a game. A coin will be tossed. If it comes up heads on the first flip you win $2. If it comes up on the second flip you win $4. If it comes up on the third you win $8, the fourth you win $16, and so on. How much should you be willing to pay to play? The standard way of analysing gambling problems,…
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