The two-envelope paradox: an axiomatic approach

F.K. Dietrich, C. List

Research output: Contribution to journalArticleAcademicpeer-review

5 Citations (Scopus)

Abstract

In this paper, we present a simple axiomatic justification for indifference before opening, avoiding any expectation reasoning, which is often considered problematic in infinite cases. Although the two-envelope paradox assumes an expectation-maximizing agent, we show that analogous paradoxes arise for agents using difierent decision principles such as maximin and maximax, and that our justification for indifierence before opening applies here too.
Original languageEnglish
Pages (from-to)239-248
Number of pages10
JournalMind
Volume114
DOIs
Publication statusPublished - 1 Jan 2005

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