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Eggs in one basket and market value

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Chapter Summary

Audun’s Story is quite explicit about certain matters of prudence and riskiness, and it complexly links this discussion to prospects of return, but not in a way that agrees fully with our present ideas of economic rationality. The problem is diversification of risk vs. putting all your eggs in one basket, the latter strategy being something no less imprudent in Jesus’ day except in the special figurative sense Jesus means to indicate, nor in Audun’s day as we saw Eirik the hunter warn him “The hunter told him it wasn’t prudent for him to give everything he had for it.” Audun does not heed Eirik’s advice. The story gives a nuanced account of the relation of risk to value, one that maps only partly on to the way we would understand that relation now and ends up affirming the virtue of competing visions of risk’s relation to reward.

Keywords: Audun’s Story; basket; economic rationality; eggs; Eirik; Jesus; prudence



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