The St Petersburg paradox 
A game has a fixed entry fee. A coin is tossed repeatedly until a "tails" appears. If you toss a "heads" on the first toss, you win $1. Every time you toss "heads", the amount you receive doubles (eg, 4 heads in a row followed by a tail gives you $8). How much would you be willing to pay for the entry fee?
http://en.wikipedia.org/wiki/St._Petersburg_paradox
A game has a fixed entry fee. A coin is tossed repeatedly until a "tails" appears. If you toss a "heads" on the first toss, you win $1. Every time you toss "heads", the amount you receive doubles (eg, 4 heads in a row followed by a tail gives you $8). How much would you be willing to pay for the entry fee?
http://en.wikipedia.org/wiki/St._Petersburg_paradox
