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?
The key to the amount is how much you play. If you charge $100 doller, for instance, the odds will favor you coming out ahead if you play less than 200 games. At 200 the odds are equal for you to be ahead or behind. Remember though that in every game there is always a chance of loosing a staggering amount of money. Something like playing Russian roulette with a revolver that has 200 chambers and one bullet!
How much you play
