Recommended readings (Machine generated): 1. Daniel Bernoulli (1954), 'Exposition of a New Theory on the Measurement of … Joseph Stiglitz (1970), 'Increasing Risk: I. A Definition', Journal of Economic Theory, 2 (3), September, 225-43 -- 5. Paul A …-August, 623-48 -- 14. Robert Wilson (1968), 'The Theory of Syndicates', Econometrica, 36 (1), January, 119-32 -- 15. Robert M …

This paper is concerned with the determination of the optimal time horizon for the cake-eating problem under …