The St. Petersburg Paradox

In the "St. Petersburg gamble," the house offers to flip a coin until it comes up heads. The payoff doubles each time tails appears. By conventional definitions, the St Petersburg gamble has an infinite potential return; nonetheless, most players feel that they should not risk more than a few dollars each time. Explaining why people offer such small sums for something with infinite potential remains contentious in both economics and philosophy. The St. Petersburg Paradoxembodies...
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In the "St. Petersburg gamble," the house offers to flip a coin until it comes up heads. The payoff doubles each time tails appears. By conventional definitions, the St Petersburg gamble has an infinite potential return; nonetheless, most players feel that they should not risk more than a few dollars each time. Explaining why people offer such small sums for something with infinite potential remains contentious in both economics and philosophy. The St. Petersburg Paradoxembodies Swiss Institute's longstanding dedication to producing inventive group exhibitions, putting artists across a century (Marcel Duchamp, Ericka Beckman, Hans Arp, Amalia Ulman, Tabor Robak) in dialogue with each other to explore the precarious nature of gaming and the impulses that underlie the way risk is calculated.Embracing the conceptual framework of an exhibition at Swiss Institute and its related public programs, each book in the SI Series adds retrospective context through seminal essays, archival materials, event transcripts, artist portfolios and exhibition documentation, as well as reprints and new translations of important texts. Each book in the series assumes a unique format to delve into the work of an artist, an artistic movement or a philosophical conundrum.