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Meaning of St. Petersburg paradox | Babel Free

Noun CEFR C1

Definitions

The paradox raised by a particular (theoretical) lottery game that leads to a random variable with infinite expected value (i.e. infinite expected payoff) but nevertheless seems to be worth only a very small amount to the participants.

CEFR level

C1
Advanced
This word is part of the CEFR C1 vocabulary — advanced level.

See also

St. Petersburgh St. Pölten St. Shott's St. Stephen's Day St. Tammany Parish St. Thomas

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