Abstract

In the asymmetrical variant of the two-envelope paradox, the amount in envelope A is determined first, and then the amount in envelope B is determined to be either twice or half the amount in A by flipping a fair coin. Contra the common belief that B is preferable to A in this case, I show that the proposed arguments for this common belief all fail, and argue that B is not preferable to A if the expected values of the amounts in the envelopes are infinite. Using the examples I deploy in my arguments against the common belief, I also refute certain proposed solutions to the two-envelope paradox and draw some general lessons