The Economics of Ignorance and Coordination

The Economics of Ignorance and Coordination
Author: Thierry Aimar
Publisher: Edward Elgar Publishing
Total Pages: 319
Release: 2014-05-14
Genre: Business & Economics
ISBN: 1781007810

This book clarifies the specific nature of the Austrian theory and restores the unity and open-mindedness of the Austrian school in general. The intention is not to offer a collection of different or parallel ideas, but rather to retrace, from a pedagogic

The Economics of Time and Ignorance

The Economics of Time and Ignorance
Author: Gerald P O'Driscoll Jnr
Publisher: Routledge
Total Pages: 300
Release: 2002-09-11
Genre: Business & Economics
ISBN: 1134808895

The Economics of Time and Ignorance is one of the seminal works in modern Austrian economics. Its treatment of historical time and of uncertainty helped set the agenda for the remarkable revival of work in the Austrian tradition which has led to an ever wider interest in the once heretical ideas of Austrian economics. It is here reprinted with a substantial new introductory essay, outlining the major developments in the area since its original publication a decade ago.

Austrian Economics Re-examined

Austrian Economics Re-examined
Author: Gerald P O'Driscoll Jr
Publisher: Routledge
Total Pages: 469
Release: 2014-12-05
Genre: Business & Economics
ISBN: 1317691350

Austrian Economics Re-examined: The Economics of Time and Ignorance is an expanded version of the 1996 edition of The Economics of Time and Ignorance. This work is a classic statement of the role of subjectivism, radical uncertainty and change through real time in Austrian economics specifically, and in modern economics more generally. The new book contains the full text and Introductions of the earlier edition as well as the comprehensive previously-unpublished essay "What is Austrian Economics?" and a new Introduction. The essay is a comprehensive overview of the central themes of the book from a somewhat different perspective than in the book itself. It supplements the analysis in the book. The new Introduction explains that the 2007-8 financial crisis and recent developments in behavioural economics have made the book more relevant than ever before. Austrian Economic Re-examined develops and systematizes the fundamental principles of the Austrian tradition to the analysis of rational expectations, business cycles, monetary theory competition and monopoly, and capital theory. The Open Access version of this book, available at https://www.taylorfrancis.com/books/oa-edit/10.4324/9781315776736, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.

Ignorance and Uncertainty

Ignorance and Uncertainty
Author: Olivier Compte
Publisher: Cambridge University Press
Total Pages: 303
Release: 2019
Genre: Business & Economics
ISBN: 1108422020

Proposes novel methods to incorporate ignorance and uncertainty into economic modeling without complex mathematics.

The Auctioneerless Economics of Axel Leijonhufvud

The Auctioneerless Economics of Axel Leijonhufvud
Author: Elisabetta de Antoni
Publisher:
Total Pages:
Release: 2010
Genre:
ISBN:

Leijonhufvud focuses his analysis on the coordination of economic activities. In a world tossed and torn by ever new episodes of instability, macroeconomic theory must finally admit and properly analyse the limits of collective and individual rationality. Starting from the system's coordination, Leijonhufvud underlines the crucial role of information, learning and institutions. Coming to individual choice, he unremittingly rejects unbounded rationality. Methodologically, however, his use of general equilibrium as a benchmark seems to have conditioned his analysis. In bringing to light the 'dark forces of time and ignorance', Leijonhufvud himself seems to have fallen under the influence of the siren represented by general equilibrium theory.

Economics as a Coordination Problem

Economics as a Coordination Problem
Author: Gerald P. O'Driscoll
Publisher: Kansas City, Kan. : Sheed Andrews and McMeel
Total Pages: 210
Release: 1977
Genre: Business & Economics
ISBN:

A revision of the author's thesis, University of California at Los Angeles. Includes index. Bibliography: p. 158-167.

Ignorance and Surprise

Ignorance and Surprise
Author: Matthias Gross
Publisher: MIT Press
Total Pages: 255
Release: 2010-05-07
Genre: Technology & Engineering
ISBN: 0262265613

The relationship between ignorance and surprise and a conceptual framework for dealing with the unexpected, as seen in ecological design projects. Ignorance and surprise belong together: surprises can make people aware of their own ignorance. And yet, perhaps paradoxically, a surprising event in scientific research—one that defies prediction or risk assessment—is often a window to new and unexpected knowledge. In this book, Matthias Gross examines the relationship between ignorance and surprise, proposing a conceptual framework for handling the unexpected and offering case studies of ecological design that demonstrate the advantages of allowing for surprises and including ignorance in the design and negotiation processes. Gross draws on classical and contemporary sociological accounts of ignorance and surprise in science and ecology and integrates these with the idea of experiment in society. He develops a notion of how unexpected occurrences can be incorporated into a model of scientific and technological development that includes the experimental handling of surprises. Gross discusses different projects in ecological design, including Chicago's restoration of the shoreline of Lake Michigan and Germany's revitalization of brownfields near Leipzig. These cases show how ignorance and surprise can successfully play out in ecological design projects, and how the acknowledgment of the unknown can become a part of decision making. The appropriation of surprises can lead to robust design strategies. Ecological design, Gross argues, is neither a linear process of master planning nor a process of trial and error but a carefully coordinated process of dealing with unexpected turns by means of experimental practice.

The Oxford Handbook of Mutual, Co-operative, and Co-owned Business

The Oxford Handbook of Mutual, Co-operative, and Co-owned Business
Author: Jonathan Michie
Publisher: Oxford University Press
Total Pages: 705
Release: 2017
Genre: Business & Economics
ISBN: 0199684979

This Handbook investigates all types of 'member owned' organizations, whether consumer co-operatives, agricultural and producer co-operatives, or worker co-operatives among many others. The chapters reflect the latest academic research and thinking on each topic, as well as reporting the relevant policy debates.

Prices and Knowledge

Prices and Knowledge
Author: Esteban F. Thomsen
Publisher: Routledge
Total Pages: 159
Release: 2002-01-22
Genre: Business & Economics
ISBN: 1134915578

The growth of information economics has lead to a substantial re-consideration of the role of prices. Instead of the conventional neo-classical view of prices as straightforward indicators of scarcity, information economics emphasises that prices can be sources from which agents infer information and means by which they communicate. Prices and Knowledge analyses different theoretical approaches to the role of prices in situations of imperfect information. It shows that whilst the `informational efficiency' approach of Grossman and Stiglitz and the `bounded rationality theory' of Nelson and Simon are useful, neither goes far enough in considering situations of disequilibrium.

Democracy and Political Ignorance

Democracy and Political Ignorance
Author: Ilya Somin
Publisher: Stanford University Press
Total Pages: 277
Release: 2013-10-02
Genre: Law
ISBN: 0804789312

One of the biggest problems with modern democracy is that most of the public is usually ignorant of politics and government. Often, many people understand that their votes are unlikely to change the outcome of an election and don't see the point in learning much about politics. This may be rational, but it creates a nation of people with little political knowledge and little ability to objectively evaluate what they do know. In Democracy and Political Ignorance, Ilya Somin mines the depths of ignorance in America and reveals the extent to which it is a major problem for democracy. Somin weighs various options for solving this problem, arguing that political ignorance is best mitigated and its effects lessened by decentralizing and limiting government. Somin provocatively argues that people make better decisions when they choose what to purchase in the market or which state or local government to live under, than when they vote at the ballot box, because they have stronger incentives to acquire relevant information and to use it wisely.