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Author: Stephen F. Frowen Publisher: Springer ISBN: 1349080977 Category : Business & Economics Languages : en Pages : 246
Book Description
A collection of papers dicussing unknowledge and choice in economics. The topics focus especially on G.L.S.Shackle's theories and his place in subjectivist thought but also include time, choice and dynamics in economics and interest rates and investment decisions.
Author: Douglas Vickers Publisher: University of Pennsylvania Press ISBN: 1512808334 Category : Business & Economics Languages : en Pages : 192
Book Description
The preoccupation of financial theory with static, timeless, equilibrium analysis has given rise to an orthodoxy that avoids the problems of uncertainty in the world. This work establishes new perspectives from which contemporary financial theory can be evaluated. Echoing Keynes' observation that "Human decisions . . . cannot depend on strict mathematical expectation," Douglas Vickers explains why most decisions in economics and finance are not made under conditions to which the calculus of probability applies. The author proposes a "new realism" in financial theory that takes into account the uncertainty in personal and economic decisions. Both business firms and financial investors, he contends, acquire an important perspective on their alternatives by focusing on the transitional, disequilibrium processes in financial markets rather than on their sup posed equilibrium conditions. This involves for economic decisions an understanding of "time" as "historic" in a genuine operational sense rather than as merely a logical variable. The notion of probability should be replaced by that of possibility, the concept that the British economist G. L. S. Shackle has called "potential surprise." In Part I, Vickers' innovative approach leads to a careful study of the "false trading" that occurs in real and financial markets. Part II provides an exposition and an evaluation of the equilibrium theory of financial asset prices. The new analytical apparatus is applied in Part Ill to investment decision making in the firm and to the choice of financial asset portfolios, as well as to the questions of asset trading and changes in portfolio composition. A scholarly and constructive work, Financial Markets in the Capitalist Process will generate controversy among professionals and debate among students for many years to come.
Author: Anthony S. Courakis Publisher: Rowman & Littlefield ISBN: 9780389201441 Category : Business & Economics Languages : en Pages : 392
Book Description
Experience during the last ten years has encouraged economists to review their judgements regarding behavior and policy. The experience of the 1970s brought inflation to prominence in the minds of policymakers and academic economists, raising questions about labor markets and other supply considerations, but also resulting in an atmosphere conducive to increasing attention on monetary and financial variables. An account of some of the issues that, in this environment, occupied the thoughts of economists and conditioned the responses of policymakers in various Western countries is what this volume is about.
Author: Denis Bouyssou Publisher: John Wiley & Sons ISBN: 1118619528 Category : Business & Economics Languages : en Pages : 671
Book Description
This book provides an overview of the main methods and results in the formal study of the human decision-making process, as defined in a relatively wide sense. A key aim of the approach contained here is to try to break down barriers between various disciplines encompassed by this field, including psychology, economics and computer science. All these approaches have contributed to progress in this very important and much-studied topic in the past, but none have proved sufficient so far to define a complete understanding of the highly complex processes and outcomes. This book provides the reader with state-of-the-art coverage of the field, essentially forming a roadmap to the field of decision analysis. The first part of the book is devoted to basic concepts and techniques for representing and solving decision problems, ranging from operational research to artificial intelligence. Later chapters provide an extensive overview of the decision-making process under conditions of risk and uncertainty. Finally, there are chapters covering various approaches to multi-criteria decision-making. Each chapter is written by experts in the topic concerned, and contains an extensive bibliography for further reading and reference.
Author: G. L. S. Shackle
Author: G. L. S. Shackle
Author: George Lennox Sharman Shackle
Author: George Lennox Sharman Shackle![Decision, Order and Time in Human Affairs. [Mit Diagr.] 2. Ed. - Cambridge: At the Univ. Press 1969. XVI, 330 S. 8° PDF](https://books.google.com/books/content/images/frontcover/ihdxQwAACAAJ?fife=w80-h100)
Author: George Lennox Sharman Shackle
Author: Donald W. Katzner
Author: 
Author: Stephen F. Frowen
Author: Douglas Vickers
Author: Anthony S. Courakis
Author: Denis Bouyssou