The Classical and Maximin Versions of the Two-Envelope Paradox


Authors
Bruce Langtry
University of Melbourne
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.
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DOI 10.26686/ajl.v2i0.1765
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