The Two Envelope Problem: a Paradox or Fallacious Reasoning?

dc.contributor.authorSpanos, Arisen
dc.contributor.departmentEconomicsen
dc.date.accessioned2017-03-13T19:07:10Zen
dc.date.available2017-03-13T19:07:10Zen
dc.date.issued2013-01en
dc.description.abstractThe primary objective of this note is to revisit the two envelope problem and propose a simple resolution. It is argued that the paradox arises from the ambiguity associated with the money content $x of the chosen envelope. When X=x is observed it is not know which one of the two events, X={\theta} or X=2{\theta}, has occurred. Moreover, the money in the other envelope Y is not independent of X; when one contains {\theta} the other contains 2{\theta}. By taking these important features of the problem into account, the paradox disappears.en
dc.identifier.urihttp://hdl.handle.net/10919/76642en
dc.relation.urihttp://arxiv.org/abs/1301.0118v1en
dc.rightsIn Copyrighten
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/en
dc.subjectstat.MEen
dc.titleThe Two Envelope Problem: a Paradox or Fallacious Reasoning?en
dc.typeArticle - Refereeden
pubs.organisational-group/Virginia Techen
pubs.organisational-group/Virginia Tech/All T&R Facultyen
pubs.organisational-group/Virginia Tech/Scienceen
pubs.organisational-group/Virginia Tech/Science/COS T&R Facultyen
pubs.organisational-group/Virginia Tech/Science/Economicsen
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