Well, there are two issues there, one is the divergent weights given to the lower-probability flip sequences (the St. Petersburg paradox), the other is the meaning of the term “subjective probability”. Asking for the odds gives a concrete interpretation to the latter. As for the former, you can probably get any answer you want, depending on how you choose to sum the divergent series.
Well, there are two issues there, one is the divergent weights given to the lower-probability flip sequences (the St. Petersburg paradox), the other is the meaning of the term “subjective probability”. Asking for the odds gives a concrete interpretation to the latter. As for the former, you can probably get any answer you want, depending on how you choose to sum the divergent series.