Time, Ignorance, and Uncertainty in Economic Models

Released on by Donald W. Katzner
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  • Time, Ignorance, and Uncertainty in Economic Models Book Detail

  • Author : Donald W. Katzner
  • Release Date : 1998
  • Publisher : University of Michigan Press
  • Genre : Business & Economics
  • Pages : 502
  • ISBN 13 : 0472109383
  • File Size : 89,89 MB
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Time, Ignorance, and Uncertainty in Economic Models by Donald W. Katzner PDF Summary

Book Description: Formal economic analysis using Shackle's ideas of historical time and nonprobabilistic uncertainty

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Proposes novel methods to incorporate ignorance and uncertainty into economic modeling without complex mathematics.

The Economics of Time and Ignorance

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The Economics of Time and Ignorance is one of the seminal works in modern Austrian economics. Its treatment of historical time and of uncertainty helped set the

Uncertainty Within Economic Models

Uncertainty Within Economic Models

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"Studying this work in real time taught me a lot, but seeing it laid out in conceptual, rather than chronological, order provides even clearer insights into the

Robustness

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The standard theory of decision making under uncertainty advises the decision maker to form a statistical model linking outcomes to decisions and then to choose