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Considering the Harmonic Sequence "Paradox"

Author

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  • Vivian, Robert William

Abstract

Blavatskyy (2006) formulated a game of chance based on the harmonic series which, he suggests, leads to a St Petersburg type of paradox. In view of the importance of the St Petersburg game to decision theory, any game which leads to a St Petersburg type paradox is of interest. Blavatskyy’s game is re-examined in this article to conclude that it does not lead to a St Petersburg type paradox.

Suggested Citation

  • Vivian, Robert William, 2008. "Considering the Harmonic Sequence "Paradox"," MPRA Paper 21216, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:21216
    as

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    File URL: https://mpra.ub.uni-muenchen.de/21216/2/MPRA_paper_21216.pdf
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    References listed on IDEAS

    as
    1. Robert W Vivian, 2003. "Considering Samuelson's ‘fallacy of the Law of Large Numbers’, Without Utility," South African Journal of Economics, Economic Society of South Africa, vol. 71(2), pages 191-197, June.
    2. Vivian, Robert William, 2006. "Considering the Pasadena "Paradox"," MPRA Paper 5232, University Library of Munich, Germany, revised Jun 2006.
    3. Vivian, Robert William, 2003. "Solving Daniel Bernoulli's St Petersburg Paradox: The Paradox which is not and never was," MPRA Paper 5233, University Library of Munich, Germany, revised 2003.
    Full references (including those not matched with items on IDEAS)

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    1. Benjamin Y. Hayden & Michael L. Platt, 2009. "The mean, the median, and the St. Petersburg paradox," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 4(4), pages 256-272, June.
    2. Vivian, Robert William, 2006. "Considering the Pasadena "Paradox"," MPRA Paper 5232, University Library of Munich, Germany, revised Jun 2006.
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    More about this item

    Keywords

    Keywords: St Petersburg paradox; harmonic series; harmonic series paradoxes; decision theory and games of chance; decision theory paradoxes; expected values.;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior

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