Theoretical Economics
Journal of the Econometric Society
Edited by: Federico Echenique • ISSN (e): 1555-7561 • ISSN (print): 1933-6837
Theoretical Economics: May, 2013, Volume 8, Issue 2
A wealth-requirement axiomatization of riskiness
https://doi.org/10.3982/TE1150
p. 591-620
Dean Foster, Sergiu Hart
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."
