Download Uncertainty in Economics: A New Approach (Contributions to by Julia Köhn PDF

March 27, 2017 | Business Finance Insurance

By Julia Köhn

during this e-book the writer develops a brand new method of uncertainty in economics, which demands a primary switch within the method of economics. It presents a finished evaluate and significant appraisal of the commercial thought of uncertainty and indicates that uncertainty used to be initially conceptualized either as an epistemic and an ontological challenge. end result of the monetary professions’ try to turn into said as a technological know-how, the extra tricky element of ontological uncertainty has been missed and the subjective likelihood method of uncertainty grew to become dominant in monetary conception. A cautious research of ontological theories of uncertainty explains the blindness of recent economics to financial phenomena corresponding to instability, slumps or over the top booms. according to those findings the writer develops a brand new process that legitimizes a brand new Uncertainty Paradigm in economics.

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