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Saint Petersburg Paradox

Statement

History

formulation date | 1713 (312 years ago)
formulator | Nicolaus I Bernoulli
proof date | 1738 (25 years later) (287 years ago)
prover | Daniel Bernoulli

Current evidence

The paradox can be resolved by refining the decision model using the concept of marginal utility.
The paradox can be resolved by taking into account the finite resources of the participants.
The paradox can be resolved by noting that one cannot buy that which is not sold.

Class

mathematical paradoxes

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