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Complex Expectations

Hajek, Alan; Nover, Harris

Description

In our 2004, we introduced two games in the spirit of the St Petersburg game, the Pasadena and Altadena games. As these latter games lack an expectation, we argued that they pose a paradox for decision theory. Terrence Fine has shown that any finite valuations for the Pasadena, Altadena, and St Petersburg games are consistent with the standard decision-theoretic axioms. In particular, one can value the Pasadena game above the other two, a result that conflicts with both our intuitions and...[Show more]

CollectionsANU Research Publications
Date published: 2008
Type: Journal article
URI: http://hdl.handle.net/1885/32244
Source: Mind: a quarterly review of philosophy
DOI: 10.1093/mind/fzn086

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