Generalized n-Paul paradox

DOI10.1016/J.SPL.2006.08.027MaRDI QIDQ2643374zbMATH OpenOpenAlexWikidataFDO

Authors Peter Kevei

Publication date 23 August 2007

Published in Statistics \& Probability Letters (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.spl.2006.08.027

zbMATH Keywords

admissible pooling strategiescomparison of infinite expectationsgeneralized St. Petersburg games

Mathematics Subject Classification ID

Distribution theory (60E99) Sums of independent random variables; random walks (60G50)

Review text

The present paper has as starting point the results of S. Csörgö and G. Simons (2002--2006) on the classical St. Petersburg(1/2) game, played by two gamblers with an unbiased coin. The author considers the generalized St. Petersburg(\(p\)) game with \(p\in (0, 1)\) as the probability of the ``heads at each throw of a possibly biased coin. An interesting result is that, while the stochastic dominance is preserved for the case of two players and an arbitrary parameter \(p\in(0, 1)\), for three or more players, the admissibly pooled winning strategies generally fail to stochastically dominate the individual strategies. The main result of the article consists in determining the best admissible pooling strategies for a rational value of \(p\), illustrating also the algebraic depth of the problem for an irrational value of the parameter \(p\).

Recommendations

• scientific article; zbMATH DE number 1959492
• Probabilistic approach to limit theorems for the St.~Petersburg game
• On the St. Petersburg Paradox
• Exact strong laws for simultaneous St. Petersburg games
• Limit theorems for a generalized St Petersburg game

Cites work

• A strong law of large numbers for trimmed sums, with applications to generalized St. Petersburg games
• scientific article; zbMATH DE number 1959492 (Why is no real title available?)
• Laws of large numbers for cooperative St. Petersburg gamblers
• Pooling strategies for St. Petersburg gamblers

Cited in

(6)

• Weak laws of large numbers for cooperative gamblers
• Merging asymptotic expansions for cooperative gamblers in generalized St. Petersburg games
• The Wallet Paradox
• scientific article; zbMATH DE number 1959492 (Why is no real title available?)
• A sensitivity analysis of matching coin game strategies
• Merging of linear combinations to semistable laws

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