Menger 1934 revisited

Details Menger 1934 revisited Menger 1934 revisited

2011-10-07

arxiv.org/abs/1110.1578v1

Economy

Quantitative Finance

Risk Management

16 pages, 1 figure

Scientific paper

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.

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