Professor Graciela Chichilnisky has chosen to discuss The Foundations of Statistics by Leonard Savage on FiveBooks as one of the top five on her subject - Risk Management, saying that:



“…This book is by a famous statistician who is now dead. Savage didn’t fall into the trap of DeGroot, who dismissed catastrophic risks. Instead he went to the other extreme. Savage’s approach can focus solely on rare events. So DeGroot underestimates rare events and Savage’s approach (which was very controversial at the time) can underestimate frequent events. That is no good either. …”



The full interview is available here: http://fivebooks.com/interviews/graciela-chichilnisky ( )