 Second, all outcomes might have finite utility value, but this value might be unbounded, which, in combination with allowing that there can be infinitely many states, gives rise to various paradoxes. The most famous of these is the St. Petersburg Paradox, first introduced by Nicolas Bernoulli in a 1713 letter (published in J. Bernoulli DW). Imagine a gamble whose outcome is determined by flipping a fair coin until it comes up heads. If it lands heads for the first time on the nth flip, the recipient gets $\(2^n\); thus the gamble has infinite expected monetary value for the person who takes it (it has a \(\lfrac{1}{2}\) probability of yielding $2, a \(\lfrac{1}{4}\) probability of yielding $4, a \(\lfrac{1}{8}\) probability of yielding $8, and so forth, and