Economic uncertainty has to do with the consequences of actions under different circumstances. This raises two … lose gains from specialization. Need for robustness comes from our limited knowledge. Rational dealing with uncertainty … terms, under such an approach acting under uncertainty is related to guidelines for strategic thinking: Focus on priorities …

Uncertainty in economics is generated by “nature” but also by the model we use to “produce the future”. The production … argues that an appropriate model for dealing with uncertainty keeps the knowledge required by the model from its user in line …