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A note on the St. Petersburg paradox

✍ Scribed by Shrisha Rao


Book ID
113011079
Publisher
Birkhäuser-Verlag
Year
2001
Weight
50 KB
Volume
56
Category
Article
ISSN
0013-6018

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Time, bounded utility, and the St. Peter
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The assumption of bounded utility function resolves the St. Petersburg paradox. The justification for such a bound is provided by Brito, who argues that limited time will bound the utility function. However, a reformulated St. Petersburg game, which is played for both money and time, effectively cir