An Operational Measure of Riskiness

Dean P. Foster () and Sergiu Hart

Discussion Paper Series from The Federmann Center for the Study of Rationality, the 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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Published in Journal of Political Economy 117 (2009), 5, 785-814

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Related works:
Journal Article: An Operational Measure of Riskiness (2009)
Working Paper: An Operational Measure of Riskiness (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:huj:dispap:dp454

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