✦ LIBER ✦
Comment: The petersburg paradox. There we go again. A reply to Bierman and Rapoport
✍ Scribed by Siem Oppe
- Publisher
- John Wiley and Sons
- Year
- 1990
- Tongue
- English
- Weight
- 136 KB
- Volume
- 35
- Category
- Article
- ISSN
- 8756-6079
No coin nor oath required. For personal study only.
✦ Synopsis
This note is a reply to the solution of a. decision paradox by Harold Bierman, Jr. and Anatol Rapoport (Behavioral Science, October, 1989, 286-290), both expressing the need for psychological concepts to clarify the problem. It is argued that their games are special cases of the classical Petersburg game of which a solution, based exclusively on probability theory, is given by Feller (1970). Furthermore, it states that a serious practical problem remains to be solved.