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.