Re: The envelope problem, and a possible solution
Hi PTB, I have a new Prop Bet for you. (And, of course, for anyone else who would like to respond.)
I will bet the amount in my Envelope that it is the smaller amount. If I lose, I will pay the amount in my envelope. But if I win, I want you to pay me (3T+6)/(2T+3) times that amount, where T is the total amount in both envelopes. (Note that this factor is always strictly less than 2. And, of course, you are free to choose T.) Moreover, I want to be able to look at the contents of my envelope before agreeing whether or not to wager. That is, after I look at what's inside my envelope, I am free to call off the bet and we both go home with no money changing hands.
Who does this bet favor? Or is that somehow impossible to objectively determine from the given information?
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