Risk aversion in the Talmud

@article{Aumann2003RiskAI,
  title={Risk aversion in the Talmud},
  author={R. Aumann},
  journal={Economic Theory},
  year={2003},
  volume={21},
  pages={233-239}
}
  • R. Aumann
  • Published 2003
  • Economics
  • Economic Theory
Summary. Evidence is adduced that the sages of the ancient Babylonian Talmud, as well as some of the medieval commentators thereon, were well aware of sophisticated concepts of modern theories of risk-bearing. 
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a succinct statement of the principle of risk aversion
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