Re: The envelope problem, and a possible solution
Actually, (at least in part) the trick is that the EV for envelopes where it 'makes sense' to switch is undefined or infinite.
For example, let's say I keep flipping a coin, and count h, the number of consecutive times it comes up heads. Then I put $(3^h) in one envelope, and $(3^(h+1)) in another. What's the expected value of an envelope?
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