Realities of Doubt and Decision

Patrick O’Sullivan

Chapter 7 in Geographical Economics, 1981, pp 119-128 from Palgrave Macmillan

Abstract: Abstract Up to this point, the actors in our theories have for the most part been credited with omniscience They have been imbued with perfect knowledge and perfect foresight. This assumption was relaxed when it came to understanding the competitive process among a few producers in a spatial market in Chapter 3. In that discussion, when making their moves, firms were conceived of as unsure of their competitors’ likely responses and as sensitive to the certainty with which they could count on their share of the market. Such a characterization has a ring of reality about it which perfection lacks.

Keywords: Geographical Economic; Perfect Foresight; Subjective Probability Distribution; Spatial Market; Diffuse Overland (search for similar items in EconPapers)
Date: 1981
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DOI: 10.1007/978-1-349-06062-7_8

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