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Uncertainty in Economics

In: Uncertainty, International Money, Employment and Theory

Author

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  • Louise Davidson

Abstract

There are two different concepts of uncertainty in economics: the classical concept and the Keynes concept. The ability of economists to explain the importance of money, liquidity and the existence of persistent unemployment in a market economy depends on which concept of uncertainty the analyst uses.

Suggested Citation

  • Louise Davidson, 1999. "Uncertainty in Economics," Palgrave Macmillan Books, in: Louise Davidson (ed.), Uncertainty, International Money, Employment and Theory, chapter 2, pages 30-37, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-14991-9_2
    DOI: 10.1007/978-1-349-14991-9_2
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    Cited by:

    1. Ivan V. Rozmainsky, 2013. "A Simple Post Keynesian Model Of Investor Myopia And Economic Growth," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 9(3), pages 45-56.
    2. Felipe Almeida, 2014. "A Psychological Perspective Of Keynes’S Approach To Decision-Making," Anais do XLI Encontro Nacional de Economia [Proceedings of the 41st Brazilian Economics Meeting] 008, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    3. van Winden Frans A.A.M. & Ash Elliott, 2012. "On the Behavioral Economics of Crime," Review of Law & Economics, De Gruyter, vol. 8(1), pages 181-213, June.
    4. Allan Kayongo & Asumani Guloba, 2018. "Economic Uncertainty and Money Demand Stability in Uganda during Financial Liberalization: A GARCH and ARDL Approach," Applied Economics and Finance, Redfame publishing, vol. 5(4), pages 70-86, July.

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