Nicolaus [Bernoulli] proposes a game to be played between Peter and Paul, in which Peter tosses a coin and continues to toss it until it comes up heads. Peter will pay Paul one ducat if heads comes up on the first toss, two ducats if heads comes up on the second toss, four ducats on the third, and so on. With each additional throw the number of ducats Peter must pay Paul is doubled. How much shoud someone pay Paul -- who stands to rake in a sizable sum of money -- for the privilege of taking his place in this game?
--Against the Gods
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