Risk, Uncertainty and Expectation as language game categories: - what we can still learn from Keynes
AbstractIn this paper we will discuss the relation between the rationality of the agents, and the probability context that involves them in the decision process made by Keynes but considering categories such as expectation as language game, in the sense that Roger Koppl understand it as-if rationalizations. In this sense Keynes’s expectations can be understand and see as only a very particular category: cognitive expectation and the uncertain situation as a very specific circumstance in production process. If expectation theory is one of the crucial issues in economic theory, a language game theory of expectation provide a more general case that need to be re-examinate as a stimulating approach
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Bibliographic InfoPaper provided by ISEG - School of Economics and Management, Department of Economics, University of Lisbon in its series Working Papers Department of Economics with number 2009/14.
Date of creation: Mar 2009
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Postal: Department of Economics, ISEG - School of Economics and Management, University of Lisbon, Rua do Quelhas 6, 1200-781 LISBON, PORTUGAL
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history of the economic ideas in Latin America; economic theory; expectations; theory of expectations.;
Find related papers by JEL classification:
- B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches
- O3 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-05-02 (All new papers)
- NEP-CBE-2009-05-02 (Cognitive & Behavioural Economics)
- NEP-HPE-2009-05-02 (History & Philosophy of Economics)
- NEP-MAC-2009-05-02 (Macroeconomics)
- NEP-PKE-2009-05-02 (Post Keynesian Economics)
- NEP-UPT-2009-05-02 (Utility Models & Prospect Theory)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Roger Koppl & Carlo Nardone, 1997. "The Angular Distribution of Asset Returns in Delay Space," Finance 9703001, EconWPA.
- Roger Koppl & Richard Langlois, 2001. "Organizations and Language Games," Journal of Management and Governance, Springer, vol. 5(3), pages 287-305, September.
- Koppl, Roger & Yeager, Leland B., 1996. "Big Players and Herding in Asset Markets: The Case of the Russian Ruble," Explorations in Economic History, Elsevier, vol. 33(3), pages 367-383, July.
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