The St. Petersburg paradox or St. Petersburg lottery is a paradox involving the game of flipping a coin where the expected payoff of the lottery game...

Bortniansky (1751–1825) "St. Petersburg" (song), 2005 song by the band Supergrass Saint Petersburg (film), a 2010 film St. Petersburg paradox, in probability theory...

theory, and bounded rationality. Nicolaus Bernoulli described the St. Petersburg paradox (involving infinite expected values) in 1713, prompting two Swiss...

the original stake. Thus the strategy is an instantiation of the St. Petersburg paradox. Since a gambler will almost surely eventually flip heads, the martingale...

often used to resolve the St. Petersburg paradox. As mentioned above, any distribution producing this variant of the paradox must have an infinite mean...

paradox (probability) Necktie paradox Sleeping Beauty problem St. Petersburg paradox Two envelopes problem List of paradoxes Martin Gardner (1961). The Second...

statistics, and asymptotic theory. He did important research on the St. Petersburg paradox. He was a member of the Hungarian Academy of Sciences. His brother...

curves, differential equations, and probability; originator of the St. Petersburg paradox Nicolaus II Bernoulli (1695–1726), son of Johann Daniel Bernoulli...

logarithm of the gambler's bankroll. It also plays a role in the St. Petersburg paradox. In microbiology, the rapidly growing exponential growth phase of...

problem occurred at all. St. Petersburg paradox: People will only offer a modest fee for a reward of infinite expected value. Paradox of plenty: Countries...

on the Measurement of Risk), Bernoulli offered a solution to the St. Petersburg paradox as the basis of the economic theory of risk aversion, risk premium...

extremely large risks. Decision theory Expected utility Scope neglect St. Petersburg paradox While it may seem very intuitive that the probability t {\displaystyle...

subjective probabilities. It is also founded in the famous example, the St. Petersburg paradox: as Daniel Bernoulli mentioned, the utility function in the lottery...

values of ±∞. This is intuitive, for example, in the case of the St. Petersburg paradox, in which one considers a random variable with possible outcomes...

amount is raised until a person wins or becomes insolvent St. Petersburg paradox – Paradox involving a game with repeated coin flipping Sunk cost fallacy –...

expected utility, as opposed to students. Ellsberg paradox Priority heuristic St. Petersburg paradox Allais, Maurice (1979). Allais, Maurice; Hagen, Ole...

trial St. Petersburg paradox O'Connor, John J.; Robertson, Edmund F., "Nicolaus II Bernoulli", MacTutor History of Mathematics Archive, University of St Andrews...

Bayesian probability Bertrand paradox Decision theory Dutch book Monty Hall problem Newcomb's paradox St. Petersburg paradox Brown, Aaron C. (1995). "Neckties...

of a New Theory on the Measurement of Risk, in which he uses the St. Petersburg paradox to show that expected value theory must be normatively wrong. He...

philosophy. During that time, he published an influential result on the St. Petersburg paradox with applications to the utility theory in economics; this result...

restore his health. In 1728, Cramer proposed a solution to the St. Petersburg Paradox that came very close to the concept of expected utility theory given...

de Montmort. In these letters, he introduced in particular the St. Petersburg Paradox. He also communicated with Gottfried Wilhelm Leibniz and Leonhard...

similar example of counterintuitive infinite expectations, see the St. Petersburg paradox. One objection is that the possibility of a human existing at all...

of Orrery. September 9 – Nicolas Bernoulli first describes the St. Petersburg paradox in a letter to Pierre Raymond de Montmort. November 13 – James Waldegrave...

principles of non-ergodicity to propose a possible solution for the St. Petersburg paradox. More recent work has suggested possible solutions for the equity...

although the motivation is different (Bernoulli wanted to resolve the St. Petersburg paradox). An English translation of the Bernoulli article was not published...

management Settlement risk Shadow banking system Specific risk St. Petersburg paradox Systematic risk Three lines of defence Treasury management Uncompensated...

known for her research in behavioral decision making, e.g., the St. Petersburg paradox and Prospect theory, and finance. Together with Thorsten Hens and...

management Risk management St. Petersburg paradox (an imaginary game with no risk of ruin and positive expected returns, yet paradoxically perceived to be of...

Blaise Pascal's Pense's, the probability of God once more, and the St. Petersburg paradox. Chapter 13, Where the Train Tracks Meet: This chapter includes...