๐”– Bobbio Scriptorium
โœฆ   LIBER   โœฆ

Becker's theory of the allocation of time and the St. Petersburg Paradox

โœ Scribed by D.L Brito


Book ID
115963988
Publisher
Elsevier Science
Year
1975
Tongue
English
Weight
233 KB
Volume
10
Category
Article
ISSN
0022-0531

No coin nor oath required. For personal study only.


๐Ÿ“œ SIMILAR VOLUMES


Time, bounded utility, and the St. Peter
โœ Tyler Cowen; Jack High ๐Ÿ“‚ Article ๐Ÿ“… 1988 ๐Ÿ› Springer US ๐ŸŒ English โš– 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