On the Normative Dimension of St. Petersburg Paradox.

Authors
David Teira
National Distance Education University
Abstract
In this paper I offer an account of the normative dimension implicit in D. Bernoulli’s expected utility functions by means of an analysis of the juridical metaphors upon which the concept of mathematical expectation was moulded. Following a suggestion by the late E. Coumet, I show how this concept incorporated a certain standard of justice which was put in question by the St. Petersburg paradox. I contend that Bernoulli would have solved it by introducing an alternative normative criterion rather than a positive model of decision-making processes.
Keywords St. Petersburg paradox  expected utility theory  Daniel Bernoulli
Categories (categorize this paper)
DOI 10.1016/j.shpsa.2005.08.019
Options
Edit this record
Mark as duplicate
Export citation
Find it on Scholar
Request removal from index
Revision history

Download options

Our Archive


Upload a copy of this paper     Check publisher's policy     Papers currently archived: 33,762
External links

Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library

References found in this work BETA

Add more references

Citations of this work BETA

A History of the Allais Paradox.Floris Heukelom - 2015 - British Journal for the History of Science 48 (1):147-169.

Add more citations

Similar books and articles

Vexing Expectations.Harris Nover & Alan Hájek - 2004 - Mind 113 (450):237-249.
Paradox Lost, but in Which Envelope?Olav Gjelsvik - 2002 - Croatian Journal of Philosophy 2 (3):353-362.
False Expectations.Amos Nathan - 1984 - Philosophy of Science 51 (1):128-136.
A New Twist to the St. Petersburg Paradox.Martin Peterson - 2011 - Journal of Philosophy 108 (12):697-699.

Analytics

Added to PP index
2009-07-26

Total downloads
54 ( #113,413 of 2,263,214 )

Recent downloads (6 months)
5 ( #79,388 of 2,263,214 )

How can I increase my downloads?

Monthly downloads

My notes

Sign in to use this feature