[PairTheBoard]

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Look at this from a Gambler's point of view. You are told about the two envelopes and asked to choose one. You are offered these Proposition Bets.

1. Given 3-2 odds, would you be willing to bet $10 that your envelope contains the smaller amount?

2. Given 3-2 odds, would you be willing to bet the amount in your Envelope that it is the smaller amount?


1 is a good bet for you while 2 is not. Do you see why?


PairTheBoard

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How about...

3. You open the envelope. It contains $10. Given 3-2 odds, would you be willing to bet this $10 that your envelope contains the smaller amount?

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Sure, as long as I would have also been allowed to bet $10 had I chosen the other envelope.


PairTheBoard