The setup: The player is given two indistinguishable envelopes, each of which contains a positive sum of money. One envelope contains twice as much as the other. The player may select one envelope and keep whatever amount it contains, but upon selection, is offered the possibility to take the other envelope instead.
Thursday, May 21, 2009
The Two Envelope Problem
If you're feeling bored and lonely, I offer you: the Two Envelopes Problem
The setup: The player is given two indistinguishable envelopes, each of which contains a positive sum of money. One envelope contains twice as much as the other. The player may select one envelope and keep whatever amount it contains, but upon selection, is offered the possibility to take the other envelope instead.
I should probably warn you all not to read this if you've already got a headache. Meh.
The setup: The player is given two indistinguishable envelopes, each of which contains a positive sum of money. One envelope contains twice as much as the other. The player may select one envelope and keep whatever amount it contains, but upon selection, is offered the possibility to take the other envelope instead.
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