Time, ignorance, and uncertainty in economic models
By: Donald W. Katzner.
Publisher: University of Michigan Press
Published: 1998
Place of publication: Ann Arbor
Language: eng
Number of pages: 486
Subjects: Information theory in economics -- Mathematical models.; Uncertainty (Information theory) -- Mathematical models.; Ignorance (Theory of knowledge) -- Mathematical models.; Time and economic reactions -- Mathematical models.; Economics -- Mathematical models.
Description: Emerging from the tradition of Marshall, Knight, Keynes, and Shackle, Time Ignorance, and Uncertainty in Economic Models is concerned with the character of formal economic analysis when the notions of logical or mechanical time, probabilistic uncertainty, and the relatively complete knowledge basis it requires, are replaced by historical time, nonprobabilistic uncertainty, and ignorance.

By constructing and exploring particular models, this book examines and emphasizes doing actual economic analysis in a framework of the latter. Time, Ignorance, and Uncertainty in Economic Models will be of interest to economists and others engaged in the study of uncertainty, probability, aggregation, and simultaneity. Those interested in the microeconomics of consumer and firm behavior, general equilibrium, and macroeconomics will also benefit from this book.
Notes: Includes bibliographical references and index.