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steven0461 comments on St. Petersburg Mugging Implies You Have Bounded Utility - Less Wrong
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Even if you do assign zero probability, what makes you think that in this specific case zero times infinity should be thought of as zero?
Because otherwise you get mugged.
You don't literally multiply 0 by infinity, of course, you take the limit of (payoff of N)*probability(you actually get that payoff) as N goes to infinity. If that limit blows up, there's something wrong with either your probabilities or your utilities. Bounding the utility is one approach; bounding the probability is another.