File:Bernoulli utility.png
From Wikimedia Commons, the free media repository
Jump to navigation
Jump to search
![File:Bernoulli utility.png](https://upload.wikimedia.org/wikipedia/commons/thumb/c/c5/Bernoulli_utility.png/659px-Bernoulli_utility.png?20161001225005)
Size of this preview: 659 × 599 pixels. Other resolutions: 264 × 240 pixels | 528 × 480 pixels | 837 × 761 pixels.
Original file (837 × 761 pixels, file size: 24 KB, MIME type: image/png)
File information
Structured data
Captions
Captions
Add a one-line explanation of what this file represents
Summary
[edit]DescriptionBernoulli utility.png |
English: $7. Therefore, let AB represent the quantity of goods initially possessed. Then after extending AB, a curve BGLS must be constructed, whose ordinates CG, DH, EL, FM, etc., designate utilities corresponding to the abscissas BC, BD, BE, BF, etc., designating gains in wealth. Further, let m,n, p, q, etc., be the numbers which indicate the number of ways in which gains in wealth BC, BD, BE, BF [misprinted in the original as CF], etc., can occur. Then (in accord with $4) the moral expectation of the risky proposition referred to is given by:
Now, if we erect AQ perpendicular to AR, and on it measure off AN = PO, the straight line NO -AB represents the gain which may properly be expected, or the value of the risky proposition in question. If we wish, further, to know how large a stake the individual should be willing to venture on this risky proposition, our curve must be extended in the opposite direction in such a way that the abscissa Bp now represents a loss and the ordinate po represents the corresponding decline in utility. Since in a fair game the disutility to be suffered by losing must be equal to the utility to be derived by winning, we must assume that An = AN, or po = PO. Thus Bp will indicate the stake more than which persons who consider their own pecuniary status should not venture. |
Date | |
Source | http://www.econ.ucsb.edu/~tedb/Courses/GraduateTheoryUCSB/Bernoulli.pdf |
Author | Daniel Bernoulli |
Licensing
[edit]Public domainPublic domainfalsefalse |
![]() |
This media file is in the public domain in the United States. This applies to U.S. works where the copyright has expired, often because its first publication occurred prior to January 1, 1929, and if not then due to lack of notice or renewal. See this page for further explanation.
|
![]() |
![]() |
This image might not be in the public domain outside of the United States; this especially applies in the countries and areas that do not apply the rule of the shorter term for US works, such as Canada, Mainland China (not Hong Kong or Macao), Germany, Mexico, and Switzerland. The creator and year of publication are essential information and must be provided. See Wikipedia:Public domain and Wikipedia:Copyrights for more details.
|
File history
Click on a date/time to view the file as it appeared at that time.
Date/Time | Thumbnail | Dimensions | User | Comment | |
---|---|---|---|---|---|
current | 22:50, 1 October 2016 | ![]() | 837 × 761 (24 KB) | Cmdrjameson (talk | contribs) | Compressed with pngout. Reduced by 184kB (88% decrease). |
16:02, 28 October 2013 | ![]() | 837 × 761 (209 KB) | BoH (talk | contribs) | User created page with UploadWizard |
You cannot overwrite this file.
File usage on Commons
There are no pages that use this file.
File usage on other wikis
The following other wikis use this file:
- Usage on ar.wikipedia.org
- Usage on nl.wikipedia.org
Metadata
This file contains additional information such as Exif metadata which may have been added by the digital camera, scanner, or software program used to create or digitize it. If the file has been modified from its original state, some details such as the timestamp may not fully reflect those of the original file. The timestamp is only as accurate as the clock in the camera, and it may be completely wrong.
Horizontal resolution | 37.79 dpc |
---|---|
Vertical resolution | 37.79 dpc |