Monthly Archives: March 2013

St Petersburg paradox explanation

This is an interesting example from decision theory (which is pretty closely linked to game theory). A (very generous!) casino offers you a game where the pot starts at $1 and on each turn a (fair) coin is tossed. If … Continue reading

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Trapped by a prisoners dilemma

I am lucky to live in the beautiful city of Bath in the south-west of England. Bath is renowned for its Roman Baths and Georgian architecture but its council has fallen into a prisoners dilemma. The city has three main … Continue reading

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