Consider the St. Petersburg paradox, except that you receive $n$ rather than 2n if the game lasts for n rounds. What is the fair value of this game? What if the payoff is $n$2?
So, after doing the St. Petersburg paradox, I calculated the E(2n) = 4. If we simply make it n, would it not just be 2? And $n$2 is 16? Or is that mistaken?
Thanks!