Question: 11.13 [Research Exercise] It may be noted from Section 11.2.1 that quadratic loss 11.14 functions are unbounded in the parameter 6. This may lead to

11.13 [Research Exercise] It may be noted from Section 11.2.1 that quadratic loss 11.14 functions are unbounded in the parameter 6. This may lead to gambling gains in utility that can be infinite. This is known as the St. Petersburg Paradox. Explain. (Hint: see, for example, Shafer, 1988.)

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