Abstract

VIVIAN, Robert William. Revised 004-8 considering the Harmonic Sequence "Paradox". S. Afr. j. econ. manag. sci. [online]. 2009, vol.12, n.3, pp.385-391. ISSN 2222-3436.

Blavatskyy (2006) formulated a game of chance based on the harmonic series which, he suggests, leads to a St Petersburg type of paradox. In view of the importance of the St Petersburg game in decision theory, any game which leads to a St Petersburg game type paradox is of interest. Blavatskyy's game is re-examined in this article to conclude that it does not lead to a St Petersburg type paradox.

Keywords : St Petersburg paradox; harmonic series; harmonic series paradoxes; decision theory and games of chance; decision theory paradoxes; expected values.

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