The exact law of large numbers via Fubini extension and characterization of insurable risks

@article{Sun2006TheEL,
  title={The exact law of large numbers via Fubini extension and characterization of insurable risks},
  author={Y. Sun},
  journal={J. Econ. Theory},
  year={2006},
  volume={126},
  pages={31-69}
}
  • Y. Sun
  • Published 2006
  • Mathematics, Computer Science
  • J. Econ. Theory
  • A Fubini extension is formally introduced as a probability space that extends the usual product probability space and retains the Fubini property. Simple measure-theoretic methods are applied to this framework to obtain various versions of the exact law of large numbers and their converses for a continuum of random variables or stochastic processes. A model for a large economy with individual risks is developed; and insurable risks are characterized by essential pairwise independence. The usual… CONTINUE READING

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