Hayden, Benjamin Y.; Platt, Michael L. - In: Judgment and Decision Making 4 (2009) 4, pp. 256-272
The St.~Petersburg Paradox is a famous economic and philosophical puzzle that has generated numerous conflicting explanations. To shed empirical light on this phenomenon, we examined subjects' bids for one St.~Petersburg gamble with a real monetary payment. We found that bids were typically...