Karthik Shashidhar

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Price—and probability—are not enough in determining what something is worth. Although the facts are the same for everyone, “the utility . . . is dependent on the particular circumstances of the person making the estimate . . . . There is no reason to assume that . . . the risks anticipated by each [individual] must be deemed equal in value.” To each his own.
Against the Gods: The Remarkable Story of Risk
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