We analyze a series of macroeconometric models developed in the years of high theory by Marschak, Frisch and Leontief … spread of technological change through the producers’ exchanges network; the other is based on the coordination problems …

contrast, uncertainty about the catastrophic threshold typically causes coordination to collapse. Whether the probability …

Study of risk has become more and more lately, the whole general theory of management due to increasing complexity of …

Stimulated by Frank Knight's work, "Risk, Uncertainty and Profit," I present a theory of innovation based on what I … term Knightian decision theory. This theory includes a concept of uncertainty aversion, a behavioral property that makes … in undertaking risks. The theory leads directly to the conclusion that innovation in business is the natural domain of …

’ decisions in choice settings has been formally represented in economic theory up to date. To position our discussion within the … ongoing debate on uncertainty, we provide a?brief review of historical developments in economic theory and decision theory …

A theory of choice under uncertainty is proposed which removes the completeness assumption from the Anscombe …-Aumann formulation of Savage's theory and introduces an inertia assumption. The inertia assumption is that there is such a thing as the … status quo and an alternative is accepted only if it is preferred to the status quo. This theory is one way of giving …