Mathematics, 20.03.2020 09:49 logicalness243

Consider the St. Petersburg Paradox in Example. Suppose that the casino has a total of M =2m dollars, and so it can afford a finite number of coin tosses.

a. How many tosses can the casino afford?
b. Find the expected payoff to the player.
c. How much should a player be willing to pay to play this game?

Answers: 3

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Consider the St. Petersburg Paradox in Example. Suppose that the casino has a total of M =2m dollars...