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  1. A functional representation of potential surprise ordering
    Autor*in: Kwak, Se Ho
    Erschienen: 2022
    Verlag:  University of Massachusetts Amherst, Amherst

    In the history of economic thought, Shackle was one of the representative critics about probability based economic theory. Specifically, he constructed his own concept of subjective uncertainty called potential surprise to replace probability. In... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 179
    Fernleihe:
    keine Fernleihe

     

    In the history of economic thought, Shackle was one of the representative critics about probability based economic theory. Specifically, he constructed his own concept of subjective uncertainty called potential surprise to replace probability. In 1980s, the potential surprise is axiomatized by Katzner as Kolmogorov-styled measure defined on the -field over the set of possible states. In this paper, potential surprise function is reconstructed as the functional representation of potential surprise ordering on the space of hypotheses about future called monad.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/283947
    Schriftenreihe: Economics Department working paper series ; 2022, 17
    Schlagworte: Shackle; uncertainty; probability
    Umfang: 1 Online-Ressource (circa 24 Seiten), Illustrationen
  2. A critical reinterpretation of Shacklean decision theory
    Autor*in: Kwak, Se Ho
    Erschienen: 2022
    Verlag:  University of Massachusetts Amherst, Amherst

    Shackle was one of the representative critics of probability calculus. His alternative decision theory was mathematically reformalized by Katzner till 1990s. Following the Katzner's reformalized framework, this paper presents a new interpretation of... mehr

    Zugang:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 179
    Fernleihe:
    keine Fernleihe

     

    Shackle was one of the representative critics of probability calculus. His alternative decision theory was mathematically reformalized by Katzner till 1990s. Following the Katzner's reformalized framework, this paper presents a new interpretation of Shacklean theory by focusing on the common stage structure of the decision-making. This paper shows that the characteristics of Shackle-Katzner framework can be explained as: (1) the non-distributive and non-additive ordinal measure of subjective uncertainty, (2) the incomplete list of imaginable future states, (3) the valuation of "importance" reflecting various types of loss-psychology, and (4) the final choice of the action is made on the set of importance intervals. The purpose of this paper is to investigate how the foundational stance of Shackle-Katzner framework about the decision-making elicits the different formal structure, and to provide a new interpretation of Shacklean decision theory.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/283949
    Schriftenreihe: Economics Department working paper series ; 2022, 19
    Schlagworte: Shackle; uncertainty; expected utility theory; non-additivity
    Umfang: 1 Online-Ressource (circa 34 Seiten), Illustrationen