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Risk Aversion in The Talmud

Robert Aumann

Discussion Paper Series from The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem

Abstract: Evidence is adduced that the sages of the ancient Babylonian Talmud, as well as some of the medieval commentators theorem, were well aware of sophisticated concepts of modern theories of risk-bearing.

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Date: 2002-05
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Published in Economic Theory, 2003, vol. 21, pp. 233-239.

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