An operational measure of riskiness

Dean P. Foster; Sergiu Hart

doi:10.1086/644840

An operational measure of riskiness

Dean P. Foster, Sergiu Hart

Research output: Contribution to journal › Article › peer-review

90 Scopus citations

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.

Original language	English
Pages (from-to)	785-814
Number of pages	30
Journal	Journal of Political Economy
Volume	117
Issue number	5
DOIs	https://doi.org/10.1086/644840
State	Published - Oct 2009

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An operational measure of riskiness

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