Two envelopes problem

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Notion

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Science and technology

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What Wikipedia says

The two envelopes problem, also known as the exchange paradox, is a paradox in probability theory. It is of special interest in decision theory and for the Bayesian interpretation of probability theory. It is a variant of an older problem known as the necktie paradox.

Excerpt from the Wikipedia article “Two envelopes problem”, under the CC BY-SA 4.0 license. Read the article on Wikipedia

Image: M.Minderhoud, CC BY-SA 3.0, via Wikimedia Commons.