Download This PaperUncertainty Outside and Inside Economic Models
56 Pages Posted: 25 Aug 2014 Last revised: 24 Mar 2023
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Uncertainty Outside and Inside Economic Models
Journal of Political Economy, Forthcoming, Becker Friedman Institute for Research in Economics Working Paper No. 2014-06
Number of pages: 55
Posted: 31 Jul 2014
Last Revised: 01 Apr 2015
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Date Written: August 2014
Abstract
We must infer what the future situation would be without our interference, and what changes will be wrought by our actions. Fortunately, or unfortunately, none of these processes is infallible, or indeed ever accurate and complete. Knight (1921)
Suggested Citation: Suggested Citation
Hansen, Lars Peter, Uncertainty Outside and Inside Economic Models (August 2014). NBER Working Paper No. w20394, Available at SSRN: https://ssrn.com/abstract=2486344
Lars Peter Hansen (Contact Author)
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