OK, I posted this inside the thread comments to the previous riddle, but I wanted to call it out with it’s own post.
Riddle 2-A (taken from here):
Suppose we are presented with the opportunity to open our wallets. Whoever has more money has to give it to the other guy.
A simple analysis suggests that you have a 50/50 chance of winning, and if you do, youâ€™ll gain more money than when you lose. So you should take the bet. But the same analysis suggests that I too should take the bet, and itâ€™s a zero-sum game, so it canâ€™t be advantageous to both of us!
Riddle 2-B (slightly rephrased)
I have two envelopes with checks (made out to ‘Cash’) in them. Andy and Bob randomly draw the envelopes, Andy ends up with envelope A and Bob with B. Andy is offered the opportunity, sight unseen, to make the same deal as in Riddle 2-A (i.e. if his envelope has a smaller check, he gets both envelopes, otherwise he loses his envelope). Should he do it?
Is there a fundamental difference between 2-A and 2-B above?
How about between these two and Riddle 1 from the previous post? (other than the concept of paying a premium to make the switch in the previous riddle…)