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Quote of the moment


"Bernoulli's theory on the utility of wealth assumed that if two people have the same wealth all other things being equal the people should be equally happy. However, where two people have US$1m but one has just prior to that had US$2m but lost US$1m whereas the other had US$500 and had just gained US$999,500 they will not be equally happy." -- http://en.wikipedia.org/wiki/Von_Neumann-Morgenstern_utility_function


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Robert J. Brown
Last modified: Fri Jul 10 01:35:31 EDT 2009