A wealth-requirement axiomatization of riskiness

Dean P. Foster*, Sergiu Hart

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

9 Scopus citations

Abstract

We provide an axiomatic characterization of the measure of riskiness of gambles (risky assets) introduced by Foster and Hart (2009). The axioms are based on the concept of "wealth requirement."

Original languageEnglish
Pages (from-to)591-620
Number of pages30
JournalTheoretical Economics
Volume8
Issue number2
DOIs
StatePublished - May 2013

Keywords

  • D81
  • G00
  • G32
  • Gamble
  • Reserve
  • Riskiness
  • Risky asset
  • Wealth

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