The Wallet Paradox

Monday, November 12, 2012 at 1:00pm to 1:45pm

Bronfman Science Center, 106 18 Hoxsey St, Williamstown, MA 01267, USA

The Wallet ParadoxTejesh Pradhan '13
Mathematics and Statistics Department Colloquium

Abstract: Lets put our wallets on the table. The game is this: The person whose wallet has less money wins all the money in the other person's wallet. Do you want to play? Is this game in your favor or mine?

Originally put forth by Martin Gardner in his book aha! Gotcha in 1981, this intriguing paradox serves as an interesting way of using basic probability theories. In this talk, I explore the possible optimal strategy for the game and in the process attempt to resolve the paradox.

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Mathematics & Statistics

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