The two-envelope paradox

Authors: Shackel N.¹; Clark M.²

Source: Mind, Volume 109, Number 435, 1 July 2000 , pp. 415-442(28)

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Abstract:

Previous claims to have resolved the two-envelope paradox have been premature. The paradoxical argument has been exposed as manifestly fallacious if there is an upper limit to the amount of money that may be put in an envelope; but the paradoxical cases which can be described if this limitation is removed do not involve mathematical error, nor can they be explained away in terms of the strangeness of infinity. Only by taking account of the partial sums of the infinite series of expected gains can the paradox be resolved.

Document Type: Original article

Affiliations: 1: Department of Mathematics, De Montfort University, The Gateway, Leicester LE1 9BH, UK 2: E-mail: nshackel@dmu.ac.uk Department of Philosophy, University of Nottingham, University Park, Nottingham NG7 2RD, UK

Publication date: 2000-07-01

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Mind has long been a leading journal in philosophy. For well over 100 years it has presented the best of cutting edge thought from epistemology, metaphysics, philosophy of language, philosophy of logic, and philosophy of mind. Mind continues its tradition of excellence today. Mind has always enjoyed a strong reputation for the high standards established by its editors and receives around 350 submissions each year. The editor seeks advice from a large number of expert referees, including members of the network of Associate Editors and his international advisers. Mind is published quarterly.