Uncertainty is endemic to innovative economies and complex societies, but policymakers underestimate how damaging this is for many of their guiding assumptions. In particular, the discourse of best practice, "global solutions for global problems," and regulatory harmonization becomes...

The default assumption of standard economics is to treat preferences as exogenously 'given', consistent with one another, 'revealed' by past choices, and context independent. There has been increased interest recently (within behavioural economics) in the impact of inconsistent or irrational...

Dynamic capitalist economies are characterised by relentless innovation and novelty and hence exhibit an indeterminacy that cannot be reduced to measurable risk. How then do economic actors form expectations and decide how to act despite this uncertainty? This paper focuses on the role played by...

Uncertainty is endemic to innovative economies and complex societies, but policymakers underestimate how damaging this is for many of their guiding assumptions. In particular, the discourse of best practice, "global solutions for global problems," and regulatory harmonization becomes...

The European Union is a unique blend of harmonized practice and mutual recognition of different regimes. In this paper, we conclude that arguments for continued diversity are more significant than the existing literature recognizes. We build on the Varieties of Capitalism argument for trading on...

The default assumption of standard economics is to treat preferences as exogenously ‘given’, consistent with one another, ‘revealed’ by past choices, and context independent. There has been increased interest recently (within behavioural economics) in the impact of inconsistent or...