Radical uncertainty / John Kay, Mervyn King.
Publisher: London : The Bridge Street Press, 2020Description: xvi, 528 pages : illustration.Content type: text | still image Media type: unmediated Carrier type: volumeISBN: 9781408712603; 9781408712597.Other title: Radical uncertainty : decision-making for an unknowable future [Cover title].Subject(s): Uncertainty | Decision making | Economics -- Psychological aspectsDDC classification: 330.019Item type | Current library | Class number | Status | Date due | Barcode | |
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Book | House of Lords Library - Palace Dewey | 330.019 KAY (Browse shelf(Opens below)) | Available | 018417 |
"Decision-making for an unknowable future."-- Dust cover.
I. Introduction : the nature of uncertainty -- The unknowable future -- Puzzles and mysteries -- Radical uncertainty is everywhere -- II. The lure of possibilities -- Thinking with probabilities -- A forgotten dispute -- Ambiguity and vagueness -- Probability and optimism -- III. Making sense of uncertainty -- Rationality in a large world -- Evolution and decision making -- The narrative paradigm -- Uncertainty, probability, and the law -- Good and bad narratives -- Telling stories through numbers -- Telling stories through models -- Rationality and communication -- Challenging narratives -- IV. Economics and uncertainty -- The world of finance -- Radical uncertainty, insurance and investment -- (Mis)Understanding microeconomics -- The use and misuse of models -- V. Living with uncertainty -- Practical knowledge -- Adapting to radical uncertainty -- Embracing uncertainty -- Appendix : axioms of choice under uncertainty.