Original Research

Considering the Pasadena “Paradox”

RW Vivian
South African Journal of Economic and Management Sciences | Vol 9, No 2 | a1152 | DOI: https://doi.org/10.4102/sajems.v9i2.1152 | © 2014 RW Vivian | This work is licensed under CC Attribution 4.0
Submitted: 10 July 2014 | Published: 10 July 2014

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RW Vivian, University of the Witwatersrand, South Africa

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Abstract

Nover and Hájek (2004) suggested a variant of the St Petersburg game which they dubbed the Pasadena game.  They hold that their game ‘is more paradoxical than the St Petersburg game in several aspects’.  The purpose of this article is to demonstrate theoretically and to validate by simulation, that their game does not lead to a paradox at all, let alone in the St Petersburg game sense.  Their game does not produce inconsistencies in decision theory.

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