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- W3124315766 abstract "Foster and Hart proposed an operational measure of riskiness for discrete random variables. We show that their defining equation has no solution for many common continuous distributions including many uniform distributions, e.g. We show how to extend consistently the definition of riskiness to continuous random variables. For many continuous random variables, the risk measure is equal to the worst--case risk measure, i.e. the maximal possible loss incurred by that gamble. We also extend the Foster--Hart risk measure to dynamic environments for general distributions and probability spaces, and we show that the extended measure avoids bankruptcy in infinitely repeated gambles." @default.
- W3124315766 created "2021-02-01" @default.
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- W3124315766 date "2013-01-01" @default.
- W3124315766 modified "2023-09-27" @default.
- W3124315766 title "The Foster-Hart Measure of Riskiness for General Gambles" @default.
- W3124315766 hasPublicationYear "2013" @default.
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