The Knightian Uncertainty Hypothesis: Unforeseeable Change and Muth`s Consistency Constraint in Modeling Aggregate Outcomes
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DOI: 10.2139/ssrn.3346766
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- Henrekson, Magnus & Johansson, Dan & Karlsson, Johan, 2022. "To Be or Not to Be: The Entrepreneur in Neo-Schumpeterian Growth Theory," Working Paper Series 1441, Research Institute of Industrial Economics, revised 13 Feb 2023.
- Henrekson, Magnus & Johansson, Dan & Karlsson, Johan, 2022. "To Be or Not to Be: The Entrepreneur in Neo-Schumpeterian Growth Theory," IZA Discussion Papers 15605, Institute of Labor Economics (IZA).
- Annalisa Cristini & Piero Ferri, 2021. "Nonlinear models of the Phillips curve," Journal of Evolutionary Economics, Springer, vol. 31(4), pages 1129-1155, September.
- Matthias J. Feiler & Thibaut Ajdler, 2019. "Model uncertainty in financial forecasting," Papers 1912.10813, arXiv.org.
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More about this item
Keywords
Unforeseeable Change; Knightian Uncertainty; Muth`s Hypothesis; Model Ambiguity; REH; Behavioral Finance;All these keywords.
JEL classification:
- C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- E00 - Macroeconomics and Monetary Economics - - General - - - General
- D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
- E00 - Macroeconomics and Monetary Economics - - General - - - General
- G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
NEP fields
This paper has been announced in the following NEP Reports:- NEP-MAC-2019-12-09 (Macroeconomics)
- NEP-UPT-2019-12-09 (Utility Models and Prospect Theory)
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