 Daniel Bernoulli proposed a very similar idea in his famous 1738 article mentioned at the beginning of this section. Daniel argued that the agent’s utility of wealth equals the logarithm of the monetary amount, which entails that improbable but large monetary prizes will contribute less to the expected utility of the game than more probable but smaller monetary amounts. As his article was about to be published, Daniel’s brother Nicolaus mentioned to him that Cramér had proposed a very similar idea in 1728 (in the letter quoted above). In the final version of the text, Daniel openly acknowledged this: 