In the history of economic thought, Shackle was one of the representative critics about probability based economic … theory. Specifically, he constructed his own concept of subjective uncertainty called potential surprise to replace … probability. In 1980s, the potential surprise is axiomatized by Katzner as Kolmogorov-styled measure defined on the &#x1d70e …

graphing tools are used, such as, probability paper and different specifications of exponential functions representing … cumulative probability distributions. The argument is that traditional time-series analysis implies a given universe, usually … uncertainty (nonmeasureable risk) due to regime changes. The analogs show the investor how to determine when a regime change has …

generally guided by call-put option pricing models - which rely on an ergodic notion of probability that conforms to a normal … distribution function. This paper considers critiques of the above models, which include Keynes's Treatise on Probability (1921 … uncertainty." The methodological issues, as can be pointed out, are relevant in the context of policy issues and social …

local municipalities do not have a higher probability of getting work early after arrival. …

awareness-dependent subject expected utility and assigns probability zero to some subsets of states that are not necessarily … events. We discuss in what sense probability zero can model unawareness. …

integration of sustainability criteria in all enterprises' decision-making and risk management and control processes, becomes more …

motives, the roles and the consequences of the Jesuits as agents of information regarding China affected the European … and transmission of information. It finds that economic progress and political consolidation in Europe did result in a …

We develop a new theory of international capital flows based on dispersed in-formation across individual investors …-standing asset price behavior. We introduce information dispersion into an openeconomy dynamic general equilibrium portfolio choice … model, and emphasize twoimplications for capital flows that are speci…c to the presence of dispersed infor-mation. First …

theoretical model assuming, first, that the amounts given is private information, only known to the donor and the donee, while the … amounts bequeathed is public information. Second, we assume that parents care about the reputation that their bequest behavior …