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St. Petersburg paradox
English
Meaning
St. Petersburg paradox
meaning
What does
St. Petersburg paradox
mean?
St. Petersburg paradox
noun
—
(
economics
)
The
paradox
raised
by
a
particular
(
theoretical
)
lottery
game
that
leads
to
a
random
variable
with
infinite
expected
value
(
i
.
e
.
infinite
expected
payoff
)
but
nevertheless
seems
to
be
worth
only
a
very
small
amount
to
the
participants
.
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