An Operational Measure of Riskiness
AbstractWe propose a measure of riskiness of “gambles” (risky assets) that is objective: it depends only on the gamble and not on the decision maker. The measure is based on identifying for every gamble the critical wealth level below which it becomes “risky” to accept the gamble.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Political Economy.
Volume (Year): 117 (2009)
Issue (Month): 5 ()
Pages: 785 - 814
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Web page: http://www.journals.uchicago.edu/JPE/
Other versions of this item:
- Dean Foster & Sergiu Hart, 2007. "An Operational Measure of Riskiness," Levine's Bibliography 843644000000000095, UCLA Department of Economics.
- Dean P. Foster & Sergiu Hart, 2007. "An Operational Measure of Riskiness," Discussion Paper Series dp454, The Center for the Study of Rationality, Hebrew University, Jerusalem.
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