What is the St. Petersburg Paradox
Constructed game of chance, which is pointed out as an argument against the usefulness of the g, principle as a decision rule for risky situations: An ideal coin is tossed until "number" appears for the first time. If this is the case with the first throw, the player receives 2 DM; If "number" falls in the second throw, he receives double the amount, i.e. 4 DM; If "number" only appears on the third throw, the profit is twice that again, ie 8 DM, etc. The mathematical expected value for the profit that can be achieved in this game is infinitely high. If the —1.1 principle is applied, everyone else would have to take part in this game. Alternative action with finite expected value, e.g. B. a gift of 1000 DM or 1 million DM, which would generally hardly be regarded as sensible behavior.
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