  The host of a game presents two indistinguishable envelopes to an agent. One
of the envelopes is randomly selected and allocated to the agent. The agent is
informed that the monetary content of one of the envelopes is twice that of the
other. The dilemma is under which conditions it would be beneficial to switch
the allocated envelope for the complementary one. The objective of his or her
envelope-switching strategy is to determine the benefit of switching the
allocated envelope and its content for the expected content of the
complementary envelope.
  The agent, upon revealing the content of the allocated envelope, must
consider the events that are likely to have taken place as a result of the
host's activities. The preceding approach is in stark contrast to considering
the agent's reasoning for a particular outcome that seeks to derive a strategy
based on the relative contents of the presented envelopes. However, it is the
former reasoning that seeks to identify what the initial amounts could have
been, as a result of the observed amount, that facilitates the identification
of an appropriate switching strategy.
  Knowledge of the content and allocation process is essential for the agent to
derive a successful switching strategy, as is the distribution function from
which the host sampled the initial amount that is assigned to the first
envelope.
  For every play of the game, once the agent is afforded the opportunity of
sighting the content of the randomly allocated envelope, he or she can
determine the expected benefit of switching.
