Petersburg-paradox meaning

A paradox, related to probability, where the expected win for repeated play of a game is infinite, so it seems that a player should be willing to pay any price to take part.
noun
0
0
Advertisement

Origin of petersburg-paradox

  • Named from Daniel Bernoulli's presentation of the problem and his solution, published in 1738 in the Commentaries of the Imperial Academy of Science of Saint Petersburg.

    From Wiktionary