Simulating Envelopes problem
By Emma Terry •
I came across the envelopes problem (can be googled for more details) where you are given two sealed envelopes with one containing twice as much money as the other. You can pick one and then switch if you choose. I read that it makes sense to switch because expected gains go up if you do. Its quite paradoxical but when I simulated it in a python program and ran it millions of times I noticed there was no benefit to switching. I didn't see any pattern where there was a benefit to switching. So what is the way to understand this?
$\endgroup$ 8 Reset to default
