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Started By
Message
re: Monty Hall Spinoff Thread: St. Petersburg Paradox
Posted on 8/12/17 at 6:22 pm to Gray Tiger
Posted on 8/12/17 at 6:22 pm to Gray Tiger
quote:quote:
You have a 1/2 chance of winning $1, a 1/4 chance of $2, a 1/8 chance of $4, and so on.
That isn't right.
Actually, taken as a series of flips in total, it is.
quote:
Each flip of the coin is 50/50.
That is true for each individual flip but not the whole series in total.
quote:quote:
As the chance of continuing the game decreases at the same rate the amount of winnings increases, the expected value of such a game is infinite.
No it is the same odds for every flip.
Perhaps the semantics of his statement are not correct but his meaning is. He is talking about the odds that the game goes that many consecutive flips, not the odds that the individual flip that time change.
Posted on 8/12/17 at 6:28 pm to KosmoCramer
quote:
That's wrong. Each flip is 50/50 but the series of events isn't. The poster above is confused.
Rereading his post, I see what you were answering now. Pretty much told him the same thing. Chalk it up to another bad response.
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