What is the maximum amount of money a rational person play

Reference no: EM131165920

In a card game, we remove the Jacks, Queens, Kings, and Aces from a deck of ordinary cards and shuffle them. You draw a card. If it is an Ace, you are paid a dollar and the game is repeated. If it is a Jack, you are paid two dollars and the game ends; if it is a Queen, you are paid three dollars and the game ends; and if it is a King, you are paid four dollars and the game ends. What is the maximum amount of money a rational person would pay to play this game?

Reference no: EM131165920

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