An Operational Measure of Riskiness

Dean P. Foster () and Sergiu Hart ()

Discussion Paper Series from Center for Rationality and Interactive Decision Theory, Hebrew University, Jerusalem

Abstract: We define the riskiness of a gamble g as that unique number R(g) such that no-bankruptcy is guaranteed if and only if one never accepts gambles whose riskiness exceeds the current wealth.

Date: 2007-06
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Working Paper: An Operational Measure of Riskiness (2007)
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