Uncertainty and Economics

Regular price €52.99
A01=Christian Müller-Kademann
Age Group_Uncategorized
Age Group_Uncategorized
Al Haytham
Author_Christian Müller-Kademann
automatic-update
Category1=Non-Fiction
Category=HP
Category=KCA
Category=KCB
Category=KCP
Category=KCZ
Category=QD
COP=United Kingdom
Current Mainstream Economics
Delivery_Pre-order
DSGE Model
Efficient Market Hypotheses
efficient market hypothesis
epistemology
eq_business-finance-law
eq_isMigrated=2
eq_non-fiction
Exchange Rates
Expected Utility
fiscal policy
Foreign Exchange Rates
Ibn Al Haytham
institutions
Investor’s Objective Function
irrationality
Language_English
Largest Information Sets
Local Linear Kernel Estimator
Lucas critique
Macro Finance Model
Model Consistent Expectations
ontology
PA=Temporarily unavailable
philosophy of economics
Price Generating Processes
Price_€20 to €50
PS=Active
puzzles
Rain Drops
rationality
RBC Model
softlaunch
uncertainty
Uncertainty Shock
Vice Versa

Product details

  • ISBN 9780367662813
  • Weight: 453g
  • Dimensions: 156 x 234mm
  • Publication Date: 30 Sep 2020
  • Publisher: Taylor & Francis Ltd
  • Publication City/Country: GB
  • Product Form: Paperback
  • Language: English
Delivery/Collection within 10-20 working days

Our Delivery Time Frames Explained
2-4 Working Days: Available in-stock

10-20 Working Days
: On Backorder

Will Deliver When Available
: On Pre-Order or Reprinting

We ship your order once all items have arrived at our warehouse and are processed. Need those 2-4 day shipping items sooner? Just place a separate order for them!

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.

Christian Müller-Kademann is Privatdozent of Economics at Jacobs University in Bremen, Germany. He received his first degree from Hull University, UK before graduating from Humboldt University, Berlin with a diploma in economics, after which he began his PhD in economics and econometrics.