Simply Avoid Being Enveloped by Paradox
You are told that you may choose one of two envelopes, each containing a sum of money. Since you are a maximally rational risk-neutral economic agent you do so. But before you open it, you are told that one envelope contains twice the amount in the other and offered the chance to switch envelopes.
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| Main Author: | |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2005
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soss_research/69 |
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| Institution: | Singapore Management University |
| Language: | English |
| Summary: | You are told that you may choose one of two envelopes, each containing a sum of money. Since you are a maximally rational risk-neutral economic agent you do so. But before you open it, you are told that one envelope contains twice the amount in the other and offered the chance to switch envelopes. |
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