Book:Article/Daniel Bernoulli/Specimen Theoriae Novae de Mensura Sortis

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Journal Article

$1738$: Specimen Theoriae Novae de Mensura Sortis ("Exposition of a New Theory on the Measurement of Risk")
Daniel Bernoulli


Subject Matter

In this thesis, Daniel Bernoulli first raises the question of the Expected-Utility Maximization Theorem, later answered by John von Neumann and Oskar Morgenstern in their Theory of Games and Economic Behaviour, 2nd ed. of $1947$.

An English translation was later published as 1954: Exposition of a New Theory on the Measurement of Risk (Econometrica Vol. 22: 23 – 36).