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 Pick a card, any card.. (Posted on 2008-03-11)
You sit down with a well mixed deck containing A cards marked "+" and B cards marked "—". You may draw cards from this deck as long as you want, i.e., you can stop playing at any point. Each time you draw a + card you are given \$1 and each time you draw a — card you have to pay \$1. Cards are not replaced after having been drawn.

What would be a fair amount to pay for the right to play (i.e., what is the expected payoff) and under what circumstance should a player cease drawing?

 No Solution Yet Submitted by FrankM Rating: 2.7500 (4 votes)

 Subject Author Date re(3): .. what went wrong .. to Charlie FrankM 2008-03-25 15:15:57 re(2): .. what went wrong .. - to S Herman FrankM 2008-03-25 14:51:20 re(2): .. what went wrong .. Charlie 2008-03-25 11:36:53 re: .. what went wrong .. Steve Herman 2008-03-25 11:08:25 .. and on the eighth day, he began to scratch his head and wonder what went wrong .. FrankM 2008-03-24 17:06:48 Ed B's questions FrankM 2008-03-24 16:33:41 re(2): A fair amount? Dej Mar 2008-03-14 02:16:21 re(2): A fair amount? Charlie 2008-03-13 21:33:33 re: Winning Strategy Eigenray 2008-03-13 20:57:28 re: A fair amount? ed bottemiller 2008-03-13 19:49:55 A fair amount? Dej Mar 2008-03-13 17:49:43 re: Winning Strategy Charlie 2008-03-13 12:51:16 Winning Strategy ed bottemiller 2008-03-13 10:44:42 Optimal strategy Eigenray 2008-03-12 22:07:34 re: Incorrect assumption Charlie 2008-03-12 15:49:09 the posted official solution is wrong Charlie 2008-03-12 15:44:49 re(2): Incorrect assumption Charlie 2008-03-12 15:20:55 re: Incorrect assumption ed bottemiller 2008-03-12 11:59:35 re: Incorrect assumption Charlie 2008-03-12 11:18:43 re(3): When to play and when to cease drawing. Charlie 2008-03-12 11:11:42 Incorrect assumption FrankM 2008-03-12 10:10:48 re(2): When to play and when to cease drawing. ed bottemiller 2008-03-12 10:04:37 re: When to play and when to cease drawing. Charlie 2008-03-11 23:15:11 re(5): What's the catch? - it's not that simple Charlie 2008-03-11 22:48:18 When to play and when to cease drawing. Leming 2008-03-11 19:52:09 re(2): Table of Fair Amount Leming 2008-03-11 19:33:11 re(4): What's the catch? - it's not that simple ed bottemiller 2008-03-11 17:00:25 re: Table of Fair Amount Charlie 2008-03-11 16:56:09 re(3): What's the catch? - it's not that simple Charlie 2008-03-11 16:09:16 Table of Fair Amount Leming 2008-03-11 16:04:47 re(2): What's the catch? - it's not that simple Charlie 2008-03-11 15:52:31 re(3): solution--I think Charlie 2008-03-11 15:46:22 re(2): solution--I think ed bottemiller 2008-03-11 15:35:21 re: What's the catch? - it's not that simple Leming 2008-03-11 15:33:36 re: solution--I think Leming 2008-03-11 15:16:43 What's the catch? ed bottemiller 2008-03-11 15:11:44 solution--I think Charlie 2008-03-11 14:41:49

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