One of the mysteries of the English language finally explained.
Also "St Petersburg paradox", "Petersburg problem", "St Petersburg problem". A paradox associated with certain betting games, for which calculation shows the expected winnings to be unlimited, but which are nevertheless unattractive to players because of the high probability of only a small payout.
Mid 19th century; earliest use found in Isaac Todhunter (1820–1884), mathematician and historian of mathematics. From the name of St Petersburg (Russian Sankt-Peterburg), Russian city, home to a scientific academy in whose transactions the problem was first discussed by Daniel Bernoulli + paradox.
Petersburg paradox/ˈpiːtəzbəːɡ ˌparədɒks/
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