Description - Probability in Economics by Omar Hamouda
Notions of probability and uncertainty have been increasingly prominant in modern economics. This work considers the philosophical and practical difficulties inherent in integrating these concepts into realistic economic situations. It outlines and evaluates the major developments, indicating where further work is needed. Issues examined include; probability, utility and rationality within current economic thought and practice, concepts of ignorance and indeterminancy, experimental economics, and econometrics - with particular reference to inference and estimation.
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