Daniel Bernoulli (1700-1782)
Daniel Bernoulli was a medical doctor and mathematician. He developed the concept of decision theory to explain the non-linear value of money that was explained in a work on probability and policital economy in which he made the assumption that the moral value of the increase in a person’s wealth is inversly proportional to the amount of that wealth. Bernoulli also developed the Bernoulli Principle, which applied the conservation of energy principle to a flowing liquid. For indepth biographical information on Bernoulli go to--
http://turnbull.dcs.st-and.ac.uk/~history/Mathematicians/Bernoulli_Daniel.html
For an explanation of the Bernoulli Principle go to--