Date of Award


Document Type

Master's report

Degree Name

Master of Science in Mathematical Sciences (MS)

College, School or Department Name

Department of Mathematical Sciences


Iosif Pinelis


The St. Petersburg Paradox was first presented by Nicholas Bernoulli in 1713. It is related to a gambling game whose mathematical expected payoff is infinite, but no reasonable person would pay more than $25 to play it. In the history, a number of ideas in different areas have been developed to solve this paradox, and this report will mainly focus on mathematical perspective of this paradox. Different ideas and papers will be reviewed, including both classical ones of 18th and 19th century and some latest developments. Each model will be evaluated by simulation using Mathematica.

Included in

Mathematics Commons