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An Empirical Approach to the St. Petersburg Paradox

✍ Scribed by Dominic Klyve, Anna Lauren


Book ID
115476404
Publisher
Mathematical Association of America
Year
2011
Tongue
English
Weight
516 KB
Volume
42
Category
Article
ISSN
0746-8342

No coin nor oath required. For personal study only.


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Time, bounded utility, and the St. Peter
✍ Tyler Cowen; Jack High πŸ“‚ Article πŸ“… 1988 πŸ› Springer US 🌐 English βš– 246 KB

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