Skip to main content
Elsevier
Shopping Cart
openUserAccount

Uncertainty in Economics

Readings and Exercises

  • 1st Edition - January 28, 1978
  • Editors: Peter Diamond, Michael Rothschild
  • Language: English
  • eBook ISBN:
    9 7 8 - 1 - 4 8 3 2 - 6 4 5 0 - 9

Uncertainty in Economics: Readings and Exercises provides information pertinent to the fundamental aspects of the economics of uncertainty. This book discusses ho uncertainty… Read more

Uncertainty in Economics

Purchase options

LIMITED OFFER

Save 50% on book bundles

Immediately download your ebook while waiting for your print delivery. No promo code is needed.

Institutional subscription on ScienceDirect

Request a sales quote
Uncertainty in Economics: Readings and Exercises provides information pertinent to the fundamental aspects of the economics of uncertainty. This book discusses ho uncertainty affects both individual behavior and standard equilibrium theory. Organized into three parts encompassing 30 chapters, this book begins with an overview of the relevance of expected utility maximization for positive and normative theories of individual choice. This text then examines the biases in judgments, which reveal some heuristics of thinking under uncertainty. Other chapters consider the effect of restricting trade in contingent commodities to those trades that can be affected through the stock and bond markets. This book discusses as well the individual problem of sequential choice and equilibria, which are built around the notion of sequential choice. The final chapter deals with an entirely different aspect of the economics of information and reverts to the assumption that markets are perfect and costless. This book is a valuable resource for economists and students.