example of a lottery: Round 1: Initial pot is $1. I flip a fair coin – if it comes up heads you win $1 and the game is over, if it comes up tails we double the pot and go to the next round. Round 2: Pot=$2, heads you win the pot and game over, tails we double the pot and go to the next round. Round 3: Pot=$4, heads you win the pot and game over, tails we double the pot and go to the next round. Round N: Pot=$2N−1 dollars, heads you win $2N−1 , tails we double the pot and go to the next round... How much…
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