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The Classical and Maximin Versions of the Two-Envelope Paradox

Year: 2004

Type: article

Abstract: The Two-Envelope Paradox is classically presented as a problem in decision theory that turns on the use of probabilities in calculating expected utilities. I formulate a Maximin Version of the paradox, one that is decision-theoretic but omits considerations of probability. I investigate the source of the error in this new argument, and apply the insights thereby gained to the analysis of the classical version.

Source: The Australasian Journal of Logic

DOI: 10.26686/ajl.v2i0.1765

Author: Bruce Langtry

Institution: The University of Melbourne

Language: English

Topic: Decision-Making and Behavioral Economics

Subfield: General Decision Sciences

Field: Decision Sciences

Domain: Social Sciences

Open Access status: diamond

OpenAlex ID: W2108046317

FWCI:

Cites:

Cited by: 5

Related to: 10