## What would you pay......?

Posted Nov19-11 at 02:09 PM by gordonj005

This interesting thought experiment was brought up by my philosophy TA last week and I thought I'd pass it along in hopes for a lively discussion.

The game is as follows. You flip a coin.

H TH TTH TTTH ..........
$2$4 $8$16

If you flip heads, the game is over and you get the coressponding prize money. The question is, how much would you be willing to pay to play this game? Seeing that winning $2 is equally as likely as winning 4$, and winning...
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