8/28/2023 0 Comments St petersburg board game![]() The problem was invented by Nicolas Bernoulli, who stated it in a letter to Pierre Raymond de Montmort on September 9, 1713. Several resolutions to the paradox have been proposed. ![]() Petersburg paradox is a situation where a naive decision criterion that takes only the expected value into account predicts a course of action that presumably no actual person would be willing to take. Petersburg lottery is a paradox involving the game of flipping a coin where the expected payoff of the theoretical lottery game approaches infinity but nevertheless seems to be worth only a very small amount to the participants.
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