In spite of superficial similarities, the way in which uncertainty is understood as a feature of the crisis by … mainstream economics is very different from Keynesian fundamental uncertainty. The difference stems from the mainstream habit of … thinking in terms of a full-information benchmark, where uncertainty arises from ignorance. By treating uncertain knowledge as …

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 …