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Titlebook: Uncertainty in Economics; A New Approach Julia Köhn Book 2017 Springer International Publishing AG 2017 Uncertainty.Predictability.Probabil

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Uncertainty and Fictionit is not sufficiently represented in economic theories. Therefore, the conclusions of economic theories are not applicable to real political questions. In what follows, I suggest a theory of reasonable economic action under conditions of uncertainty. The theory describes how choice could be conceptualised under conditions of uncertainty.
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The Principles of Economicsman ended the dispute and established the view that economics is a positive science, which consisted of “a body of tentatively accepted generalizations about economic phenomena that can be used to predict the consequences of changes in circumstances” (Friedman 1953: 25).
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Uncertainty in the History of Economic Thoughtn the science of economics, which dates back to the early days of modern economics in the eighteenth century. Since then, economists have an ambivalent relation to the problem of uncertainty, which expresses itself in a Janus-face definition of uncertainty. On the one hand, there is the Fundamental
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