A. Consider the following game: we flip four coins, and if we ever flip two heads...
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A. Consider the following game: we flip four coins, and if we ever flip two heads in a row, we win $1. What is a fair amount to pay to play this game? B. Same question, but now flip five coins. C. Can you generalize this? A. Consider the following game: we flip four coins, and if we ever flip two heads in a row, we win $1. What is a fair amount to pay to play this game? B. Same question, but now flip five coins. C. Can you generalize this?
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