Daniel Bernoulli, 1700-1782, was a Swiss mathematician and physicist. His prolific research and discoveries contributed to a wide range of fields, where we can highlight fluid mechanics, statistics and probability.

Furthermore, his contributions to statistics and probability have a great value in economic science. In his “*Exposition of a New Theory on the Measurement of Risk”* 1738, Bernoulli made a successful attempt to solve the *St. Petersburg paradox*, and was therefore able of distinguishing between the expected value and *expected utility*, and this way setting the base for many *risk* theories such as *risk aversion*, *risk premium*, but especially *expected utility theory*.