Suppose someone offers you the following bet – they will toss a coin and if it comes down heads they will pay you £1,000 but if it comes down tails you will have to pay them £100 (and this will be...


Suppose someone offers you the following bet – they will toss a coin and if it comes down heads they will pay you £1,000 but if it comes down tails you will have to pay them £100 (and this will be done only once). Should you take the bet – assuming it is a standard coin, that you can afford to lose £100, would like to win £1,000 and are not opposed in principle to gambling?



May 25, 2022
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