South African Journal of Economic and Management Sciences, Vol 12, No 3 (2009)

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Considering the Harmonic Sequence “Paradox”

Robert Vivian

Abstract


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.

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EISSN 2222-3436 (Online)