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Ergodicity — Ole Peters

The Joe Walker Podcast

CHAPTER

The Saint Petersburg Paradox

In many cases, what determines the behaviour of the physical system is the weakest component. So that's an extreme value, right? You're looking for the weakest so there's thet the superlativeto the extreme. And then in 17 13, he said, ok, now, let me hit you on the head with something. If you still believe that expectation values are the answer to everything, i'll give you a gamble. He just invented a gamble where that expected gain doesn't exist because it diverges. Physically, it makes no sense. No one would pay a lot to enter into such a gamble. But mathematically, it's very clever e e er intervention by

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