South African Journal of Economic and Management Sciences
On-line version ISSN 1015-8812
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 1015-8812.
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.