Term
Bernoulli
Daniel Bernoulli, an eighteenth-century mathematician. His work on risk explained why the value of money to a person does not grow in a straight line.
Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street, William Poundstone
Explained in
- Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street, William Poundstone
- A Philosophical Essay on Probabilities, Pierre-Simon Laplace
A Swiss family of mathematicians. Jacob Bernoulli (1655-1705) proved the law of large numbers; his nephew Daniel Bernoulli (1700-1782) proposed the rule by which the value of money depends on how much a person already has.
- Against the Gods: The Remarkable Story of Risk, Peter L. Bernstein
A family of Swiss mathematicians. Jacob Bernoulli (1655–1705) proved the law of large numbers; his nephew Daniel Bernoulli (1700–1782) introduced the idea of utility.