Uncertainty represented by volatilities in equity markets has been observed to be time-variable and lead output … fluctuations. In the rational expectation framework, uncertainty with this nature needs exogenous variables with time … that supervisions and law enforcement that reduce cheatings in contracts is one of the ultimate sources of uncertainty. The …

. There are at least five equivalent ways of representing the measured model uncertainty and a new and an improved risk … - uncertainty, complexity and rank. First, the concept of epistemic uncertainty is sufficient for modeling and the concept of … probability is unnecessary. This is illustrated by 'Galton's Error,' and the under-repesentation of systematic risk by American …

NEED TO RECONSIDER OUR ACTIONS/DECISIONS WITH RISK AND TROUBLES, SO 'TRUSTING' IS GOING TO HAVE AN IMPORTANT ROLE AS … AND WE WONT TO AVOID THE RISK OF BEING DECEIVED. THESE SOCIAL INTERACTIONS ARE PRECONDITIONS THAT HAVE MANY CONSEQUENCES …

of the paper are relevant also for price competition and for uncertainty about, e.g., cost or the number of firms, and …