# On the St. Petersburg paradox

@article{Dutka1988OnTS, title={On the St. Petersburg paradox}, author={Jacques Dutka}, journal={Archive for History of Exact Sciences}, year={1988}, volume={39}, pages={13-39} }

Set theory and measure theory were developed in the early part of this century, and subsequently A. N. Kolmogoroff [1] formulated an axiomatic foundation for the mathematical theory of probability. His work was further elaborated by others. Most mathematicians today are agreed that the foundations of probability theory are as well established as any other branch of mathematical analysis. While there are differences among practitioners concerning the range of applicability of probability models… Expand

#### 17 Citations

Financial and Economic Aspects of St. Petersburg Paradox

- Economics
- 2011

This paper reviews some aspects of the history and the economic application of the St. Petersburg paradox. In the early 1700s Nicolaus and Daniel Bernoulli formulated a problem in the theory of games… Expand

Moral Impossibility in the Petersburg Paradox : A Literature Survey and Experimental Evidence

- Political Science
- 2010

The Petersburg paradox has led to much thought for three centuries. This paper describes the paradox, discusses its resolutions advanced in the literature while alluding to the historical context,… Expand

Theory of Probability. A Historical Essay

- Mathematics
- 2018

This book covers the history of probability up to Kolmogorov with essential additional coverage of statistics up to Fisher. Based on my work of ca. 50 years, it is the only suchlike book. Gorrochurn… Expand

Does the St. Petersburg Paradox Cast Doubt on the Use of Expected Value Theory to Approximate the Random Present Value of a Life Annuity?

- Economics
- 2014

The classic approximation of the random present value (PV) of a life annuity is its expected PV (EPV) over its term. EPV minimizes mean squared error per expected value theory (EVT). Here, based on… Expand

On the St. Petersburg Paradox

- Economics, Mathematics
- 1998

The classical St. Petersburg Paradox is discussed in terms of doubling strategies. It is claimed that what was originally thought of as a ''paradox'' can hardly be considered as very surprising… Expand

A Resource-Rational Process-Level Account of the St. Petersburg Paradox

- Computer Science, Economics
- CogSci
- 2019

This work shows that Nobandegani et al.'s (2018) metacognitively rational model, sample-based expected utility (SbEU), can account for major experimental findings on this paradox and presents the first resource-rational, process-level explanation of this paradox. Expand

Capitalization in the St. Petersburg game

- Economics
- 2013

In spite of its infinite expectation value, the St. Petersburg game is not only a gamble without supply in the real world, but also one without demand at apparently very reasonable asking prices. We… Expand

Theory of Probability. An Elementary Treatise against a Historical Background

- Mathematics
- 2018

A popular scientific contribution should not contradict any established facts and ought to be understandable. I complied with both these requirements and am offering a sufficiently full introduction… Expand

The dimension of the St. Petersburg game

- Mathematics
- 2013

Let $S_n$ be the total gain in $n$ repeated St.\ Petersburg games. It is known that $n^{-1}(S_n-n\log_2n)$ converges in distribution to a random element $Y(t)$ along subsequences of the form… Expand

Feller’s EarlyWork on Limit Theorems

- Mathematics
- 2015

Feller’s papers on the central limit theorem (1935) and the weak law of large numbers (1937), henceforth abbreviated by CLT and WLLN, prepared the ground for his high reputation. Both papers, as well… Expand

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