Menger 1934 revisited
Risk Management
2011-10-10 v1
Abstract
Karl Menger's 1934 paper on the St. Petersburg paradox contains mathematical errors that invalidate his conclusion that unbounded utility functions, specifically Bernoulli's logarithmic utility, fail to resolve modified versions of the St. Petersburg paradox.
Cite
@article{arxiv.1110.1578,
title = {Menger 1934 revisited},
author = {Ole Peters},
journal= {arXiv preprint arXiv:1110.1578},
year = {2011}
}
Comments
16 pages, 1 figure