# Exposition of a New Theory on the Measurement of Risk

@inproceedings{Bernoulli1954ExpositionOA, title={Exposition of a New Theory on the Measurement of Risk}, author={Daniel Bernoulli}, year={1954} }

EVER SINCE mathematicians first began to study the measurement of risk there has been general agreement on the following proposition: Expected values are computed by multiplying each possible gain by the number of ways in which it can occur, and then dividing the sum of these products by the total number of possible cases where, in this theory, the consideration of cases which are all of the same probability is insisted upon. If this rule be accepted, what remains to be done within the…

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## 15 References

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