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My favourite probability problem

Posted By: Matt Cohn-Geier
Date: Saturday, 29 August 2009, at 12:15 a.m.

In Response To: My favourite probability problem (joe freedman)

Do these lead to an inconsistency?

1) You are not willing to bet, receiving long odds, that if you take the $1,000 you will end up with only $1,000.
2) You are willing to bet, laying long odds, that if you take the envelope you will get $1 million.
3) You take the $1,000.

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