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Croatian Journal of Philosophy

Volume 2, Issue 3, 2002

Theories of Rationality

Olav Gjelsvik
Pages 353-362

Paradox Lost, but in which Envelope?

The aim of this paper is to diagnose the so-called two envelopes paradox. Many writers have claimed that there is something genuinely paradoxical in the situation with the two envelopes, and some writers are now developing non-standards theories of expected utility. I claim that there is no paradox for expected utility theory as I understand that theory, and that contrary claims are confused. Expected utility theory is completely unaffected by the two-envelope paradox.

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