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Pierre-Louis Dumesnil, Interior with Card Players, c1752 , Metropolitan Museum, N.Y. |
The "St Petersburg Paradox" is a classic problem in probability theory first formulated in the early 18th century by the Swiss Mathematician Nicolas Bernoulli. It first came to widespread attention in 1738 when Daniel Bernoulli, another of the Bernoulli dynasty, presented it to the Imperial Academy of Sciences in St. Petersburg. D'Alembert described it in the Encyclopédie article "Croix ou pile" in 1754 and returned to it repeatedly in later writings. Buffon claimed to have been introduced to it independently as early as 1730 by the Genevan professor Gabriel Cramer and to have reached conclusions similar to those of Daniel Bernouilli.