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2012 | OriginalPaper | Chapter

A Roadmap to Resolve the Big Question

Author : Colin Read

Published in: The Portfolio Theorists

Publisher: Palgrave Macmillan UK

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In 1738, Daniel Bernoulli of the renowned Bernoulli mathematics family posed what we now call the St Petersburg Paradox. In its simplest form, it asked if one would be willing to bet one ducat for the opportunity to flip a coin and possibly win two ducats. If such a toss is actuarially fair, why are few willing to bet 1,000 ducats for a 50/50 chance to win 2,000 ducats or a million to win two million?

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Metadata
Title
A Roadmap to Resolve the Big Question
Author
Colin Read
Copyright Year
2012
Publisher
Palgrave Macmillan UK
Book
The Portfolio Theorists

Print ISBN: 978-1-349-32431-6

Electronic ISBN: 978-0-230-36230-7

Copyright Year: 2012

DOI
https://doi.org/10.1057/9780230362307_2