The St. Petersburg Paradox

Melvyn Bragg and guests discuss the strange mathematics of probability where heads or tails is a simple question with a far from simple answer. Gambling may be as old as the hills but probability as a mathematical discipline is a relative youngster. Probability is the field of maths relating to random events and, although commonplace now, the idea that you can pluck a piece of maths from the tumbling of dice, the shuffling of cards or the odds in the local lottery is a relatively recent and powerful one. It may start with the toss of a coin but probability reaches into every area of the modern world, from the analysis of society to the decay of an atom. With Marcus du Sautoy, Professor of Mathematics at the University of Oxford; Colva Roney-Dougal, Lecturer in Pure Mathematics at the University of St Andrews; Ian Stewart, Professor of Mathematics at the University of Warwick