Müller-Kademann, Christian, 1972-
Uncertainty and economics : a paradigmatic perspective / Christian Müller-Kademann. - 1 online resource. - Routledge frontiers of political economy ; 252 .
What's uncertainty, after all? -- Uncertainty in economics -- Uncertainty in the economy -- The empirics of uncertainty.
"This book is set against the assumption that humans' unique feature is their infinite creativity, their ability to reflect on their deeds and to control their actions. These skills give rise to genuine uncertainty in society and hence in the economy. Here, the author sets out that uncertainty must take centre stage in all analyses of human decision making and therefore in economics. Uncertainty and Economics carefully defines a taxonomy of uncertainty and argues that it is only uncertainty in its most radical form which matters to economics. It shows that uncertainty is a powerful concept that not only helps to resolve long-standing economic puzzles but also unveils serious contradictions within current, popular economic approaches. It argues that neoclassical, real business cycle, or new-Keynesian economics must be understood as only one way to circumvent the analytical challenges posed by uncertainty. Instead, embracing uncertainty offers a new analytical paradigm which, in this book, is applied to standard economic topics such as institutions, money, the Lucas critique, fiscal policy and asset pricing. Through applying a concise uncertainty paradigm, the book sheds new light on human decision making at large. Offering policy conclusions and recommendations for further theoretical and applied research, it will be of great interest to postgraduate students, academics and policy makers"--
0429021534 9780429021534 9780429667213 0429667213 9780429661778 0429661770 9780429664496 0429664494
Uncertainty.
Economics.
BUSINESS & ECONOMICS / Economics / General
BUSINESS & ECONOMICS / Reference
BUSINESS & ECONOMICS / General
BUSINESS & ECONOMICS / Economic History
BUSINESS & ECONOMICS / Economics / Macroeconomics
HB615
330.01
Uncertainty and economics : a paradigmatic perspective / Christian Müller-Kademann. - 1 online resource. - Routledge frontiers of political economy ; 252 .
What's uncertainty, after all? -- Uncertainty in economics -- Uncertainty in the economy -- The empirics of uncertainty.
"This book is set against the assumption that humans' unique feature is their infinite creativity, their ability to reflect on their deeds and to control their actions. These skills give rise to genuine uncertainty in society and hence in the economy. Here, the author sets out that uncertainty must take centre stage in all analyses of human decision making and therefore in economics. Uncertainty and Economics carefully defines a taxonomy of uncertainty and argues that it is only uncertainty in its most radical form which matters to economics. It shows that uncertainty is a powerful concept that not only helps to resolve long-standing economic puzzles but also unveils serious contradictions within current, popular economic approaches. It argues that neoclassical, real business cycle, or new-Keynesian economics must be understood as only one way to circumvent the analytical challenges posed by uncertainty. Instead, embracing uncertainty offers a new analytical paradigm which, in this book, is applied to standard economic topics such as institutions, money, the Lucas critique, fiscal policy and asset pricing. Through applying a concise uncertainty paradigm, the book sheds new light on human decision making at large. Offering policy conclusions and recommendations for further theoretical and applied research, it will be of great interest to postgraduate students, academics and policy makers"--
0429021534 9780429021534 9780429667213 0429667213 9780429661778 0429661770 9780429664496 0429664494
Uncertainty.
Economics.
BUSINESS & ECONOMICS / Economics / General
BUSINESS & ECONOMICS / Reference
BUSINESS & ECONOMICS / General
BUSINESS & ECONOMICS / Economic History
BUSINESS & ECONOMICS / Economics / Macroeconomics
HB615
330.01