We play a game as follows:
I place one dollar on the table. I repeatedly flip a coin. Each time the coin comes up heads, I double the money on the table. The first time the coin comes up tails, you take the money and the game is over.
What's a fair admission price for the game?
Would you play the game with me for $100?
(In reply to
Wait a second... by levik)
I guess it wasn't clear.
You pay me to enter the game. Once you've paid (and I've pocketed your money), I put $1 on the table and begin flipping.
So, I invariably get whatever amount we agreed is the price of the game. You get a variable amount, depending on the outcomes of the flips. You always get at least $1.
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Posted by Jim Lyon
on 2002-10-09 11:49:16 |
re: Wait a second...
