Statistics Papers
Document Type
Journal Article
Date of this Version
10-2009
Publication Source
Journal of Political Economy
Volume
117
Issue
5
Start Page
785
Last Page
814
DOI
10.1086/644840
Abstract
We 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.
Recommended Citation
Foster, D. P., & Hart, S. (2009). An Operational Measure of Riskiness. Journal of Political Economy, 117 (5), 785-814. http://dx.doi.org/10.1086/644840
Date Posted: 27 November 2017
This document has been peer reviewed.