What is Info-Gaps solution to the famous Two-Envelope Puzzle?
Answer-39: I have no idea! This is anybody’s guess. One of Info-Gap’s main theses is that it fills in a gaping hole left by the shortcomings of Probability Theory. Its point is that an appeal to Laplace’s Principle of Insufficient Reason (1825) not always enables the modeling of ignorance probabilistically. To substantiate this point it uses the two-envelope puzzle as an illustration (Ben-Haim 2006, p. 15). It is important therefore to set the record straight. The two-envelope puzzle can definitely be treated probabilistically with significant success. For a discussion on this issue see the article in WIKIPEDIA. Also see my paper on this topic (Sniedovich 2007b).
