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Ignorance and Uncertainty

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Release : 2018-12-13
Genre : Business & Economics
Kind : eBook
Book Rating : 512/5 ( reviews)

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Book Synopsis Ignorance and Uncertainty by : Olivier Compte

Download or read book Ignorance and Uncertainty written by Olivier Compte. This book was released on 2018-12-13. Available in PDF, EPUB and Kindle. Book excerpt: Born of a belief that economic insights should not require much mathematical sophistication, this book proposes novel and parsimonious methods to incorporate ignorance and uncertainty into economic modeling, without complex mathematics. Economics has made great strides over the past several decades in modeling agents' decisions when they are incompletely informed, but many economists believe that there are aspects of these models that are less than satisfactory. Among the concerns are that ignorance is not captured well in most models, that agents' presumed cognitive ability is implausible, and that derived optimal behavior is sometimes driven by the fine details of the model rather than the underlying economics. Compte and Postlewaite lay out a tractable way to address these concerns, and to incorporate plausible limitations on agents' sophistication. A central aspect of the proposed methodology is to restrict the strategies assumed available to agents.

Ignorance and Uncertainty

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Author :
Release : 2019
Genre : Business & Economics
Kind : eBook
Book Rating : 020/5 ( reviews)

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Book Synopsis Ignorance and Uncertainty by : Olivier Compte

Download or read book Ignorance and Uncertainty written by Olivier Compte. This book was released on 2019. Available in PDF, EPUB and Kindle. Book excerpt: Proposes novel methods to incorporate ignorance and uncertainty into economic modeling without complex mathematics.

Willful Ignorance

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Release : 2014-08-04
Genre : Mathematics
Kind : eBook
Book Rating : 444/5 ( reviews)

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Book Synopsis Willful Ignorance by : Herbert I. Weisberg

Download or read book Willful Ignorance written by Herbert I. Weisberg. This book was released on 2014-08-04. Available in PDF, EPUB and Kindle. Book excerpt: An original account of willful ignorance and how this principle relates to modern probability and statistical methods Through a series of colorful stories about great thinkers and the problems they chose to solve, the author traces the historical evolution of probability and explains how statistical methods have helped to propel scientific research. However, the past success of statistics has depended on vast, deliberate simplifications amounting to willful ignorance, and this very success now threatens future advances in medicine, the social sciences, and other fields. Limitations of existing methods result in frequent reversals of scientific findings and recommendations, to the consternation of both scientists and the lay public. Willful Ignorance: The Mismeasure of Uncertainty exposes the fallacy of regarding probability as the full measure of our uncertainty. The book explains how statistical methodology, though enormously productive and influential over the past century, is approaching a crisis. The deep and troubling divide between qualitative and quantitative modes of research, and between research and practice, are reflections of this underlying problem. The author outlines a path toward the re-engineering of data analysis to help close these gaps and accelerate scientific discovery. Willful Ignorance: The Mismeasure of Uncertainty presents essential information and novel ideas that should be of interest to anyone concerned about the future of scientific research. The book is especially pertinent for professionals in statistics and related fields, including practicing and research clinicians, biomedical and social science researchers, business leaders, and policy-makers.

Time, Ignorance, and Uncertainty in Economic Models

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Author :
Release : 1998
Genre : Business & Economics
Kind : eBook
Book Rating : 383/5 ( reviews)

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Book Synopsis Time, Ignorance, and Uncertainty in Economic Models by : Donald W. Katzner

Download or read book Time, Ignorance, and Uncertainty in Economic Models written by Donald W. Katzner. This book was released on 1998. Available in PDF, EPUB and Kindle. Book excerpt: Formal economic analysis using Shackle's ideas of historical time and nonprobabilistic uncertainty

Ignorance and Uncertainty

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Release : 1989-01-01
Genre : Ignorance (Theory of knowledge)
Kind : eBook
Book Rating : 457/5 ( reviews)

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Book Synopsis Ignorance and Uncertainty by : Michael Smithson

Download or read book Ignorance and Uncertainty written by Michael Smithson. This book was released on 1989-01-01. Available in PDF, EPUB and Kindle. Book excerpt: Ignorance and Uncertainty overviews a variety of approaches to the problem of indeterminacies in human thought and behavior. This book examines, in depth, trends in the psychology of judgment and decision-making under uncertainty or ignorance. Research from the fields of cognitive psychology, social psychology, organizational studies, sociology, and social anthroplogy are reviewed here in anticipation of what Dr. Smithson characterizes as the beginning of a "creative dialogue between these researchers." Ignorance and Uncertainty offers the conceptual framework for understanding the paradigms associated with current research. It discusses the ways in which attitudes toward ignorance and uncertainty are changing, and addresses issues previously ignored.

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