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Ergodicity — Ole Peters

The Joe Walker Podcast

CHAPTER

What's Your Answer to the St. Petersburg Paradox?

Nicholas banoli came up with this with his gamble, and this turned into a puzzle. And benuli says, well, let's just try to stick this into the mathematics sol try to find a way to incorporate the psychological aspect that is involved in human decision making e into the mathematics. So 25 years later, in 17 38, another burnoly, daniel burnoly, comes along, and he offers his answer to the saint petersburg paradoxd what's his answer? Ye o. So theye are different levels. Again, er, to answer that question, am, very broadly, his answer is, don't think about the dollar amount amounts involved in a gamble

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