7.7 flipping coin

[gamma]

4 coins, I flip them, give you dollar for each heads.How would you pay to play?
What if I give you the option to reflip any coin?
What if I make you reflip?



case 1: payoff=2
case 2: payoff=19/8
case3: ???

 

[gamma]

upd
1. payoff=2
2.payoff=2+15/32
3.payoff=2+14/32

 

[ville kuusela]

Could you explain please?