Despite their common emphasis upon uncertainty as a key economic variable, Frank Knight and John Maynard Keynes viewed … differing views regarding the role of economic theory as applied to the real world. William Greer reveals that the intellectual … role in ensuring the smooth operation of a system of otherwise free markets. Ethics and Uncertainty explores how two …

: Introduction and Summary -- Chapter 2: On the Economics of Risk and Uncertainty:A Historical Perspective -- Chapter 3: J.M. Keynes … on J.M. Keynes and F.H. Knight: Risk, Ambiguity, and Uncertainty -- Part 2: Market and Application -- Chapter 5 … economic thought. In 1921 they both published apparently similar books on risk, probability, and uncertainty. However, while …

although risk can be measured, uncertainty cannot be measured. Even though risk can be measured, a simple symmetric measure … attempt at "measuring" risk or (fundamental) uncertainty is flawed. … surge in the stock market would be self-correcting. Recent papers have discussed the role of "uncertainty" and its …

The current coronavirus pandemic is a recent example of how an unpredictable event can cause uncertainty and affect … Uncertainty Index, developed by the three economists Scott R. Baker, Nicholas Bloom and Steven J. Davis, try to capture … perceptions of uncertainty and use them to generate predictions for the economic future. The index is based on a search term that …