(This is the second of four condensed excerpts from Daniel Kahneman's new book, "Thinking Fast and Slow.") Oct. 26 (Bloomberg) -- In 1738, the Swiss scientist Daniel Bernoulli argued that a gift of 10 ...

What Is Bernoulli's Hypothesis? Bernoulli's Hypothesis states a person accepts risk not only on the basis of possible losses or gains, but also based upon the utility gained from the risky action ...

The paper deals with the reception of Daniel Bernoulli's 1738 memoir by the marginalist economists. Bernoulli's main contributions are the suggestion to adopt expected utility as criterion for ...

Available empirical evidence suggests that skewness preference plays an important role in understanding asset pricing and gambling. This paper establishes a skewness-comparability condition on ...