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

Journal Article

$\text {1738}$: 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: pp. 23 – 36).