from Hacker News

Exposition of a New Theory on the Measurement of Risk (1738) [pdf]

by cpp_frog on 9/14/23, 4:14 PM with 8 comments

• by kqr on 9/15/23, 10:49 AM

  I have been looking for this paper in a standalone version! Previously I've only come across it as the first chapter of The Kelly Capital Growth Criterion, which is an otherwise also excellent book and recommended reading for anyone for whom this is their thing!

• by hammock on 9/15/23, 1:52 PM

  >the determination of the value of an item must don’t be based on its price, but rather on the utility it yields

  (In regards to a poor man with 9k ducats or a 50/50 20k ducat lottery ticket) A bird in hand is worth two in the bush

• by mwexler on 9/15/23, 1:22 PM

  Should date in the parent be (1954)?