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Ii. Safety First, Lester G. Telser
Ii. Safety First, Lester G. Telser
Lester G Telser
Abstract Selecting that portfolio which maximizes the expected return such that the probability of disaster is below a prescribed level furnishes a reasonable criterion for choice among risky alternatives although it expresses preferences only among alternatives that satisfy the constraint. Criteria for Decision Making under Risk and Uncertainty JEL D81