Imperfect Knowledge Economics: Exchange Rates and Risk
"[T]he challenge that existing economic orthodoxy may find most disconcerting isImperfect Knowledge Economics(IKE), the name of a path-breaking recent book."--Anatole Kaletsky,The Times(London)". . . sets out an alternative approach to prediction, in which the forecaster recognizes that his model will inevitably be less than perfect."--The Economist"A new book ... coins the phrase "imperfect knowledge economics" to describe this world of fundamental uncertainty."--Finanical Times"A new conceptual framework--Imperfect Knowledge Economics(IKE)--provides the rationale for policy intervention in asset markets, and also has important implications for how regulators should measure and manage systemic financial risk."--Edmund Phelps, Guardian.co.uk