Tag Archives: probabilities

It might happen, but it probably won’t

Sometimes when we try to look forward, to think in what will happen just to plan an action ahead of time —say, guessing someone is going to ask you about your black eye after a fight— we think too little about the real possibilities. In a case when we ask something and foresee a possible […]

St. Peterburg paradox and human behavior

Reading through an amazing book about Math I bought a couple of years ago I found out about this thing: The St. Petersburg Paradox. Basically, it can be explained this way: to determine price for entering a game consisting on flipping a coin until getting tails, winning 2^(k−1) (2 elevated to the difference k minus […]