 IntroductionJulia Köhn Chapter Chapter 1 in Uncertainty in Economics, 2017, pp 1-13 from Springer Abstract: Abstract This book is about the nature of uncertainty in economics and its implications for the science of economics. The concept of uncertainty is a fundamental of economic thought. We cannot understand meaningful economic phenomena, like the market, the price or profit without recognizing the centrality of uncertainty to the economy and economics. Yet, the modern positivist research principles have neglected the significance of uncertainty, to establish and defend an elegant economic science. The analysis shows that this is illegitimate both from a history of ideas perspective and from a methodological perspective. Positive economic theories are meaningless in the face of uncertainty. Furthermore, if uncertainty is a fundamental of economics, Positive Economic theories are meaningless per se. Therefore, I suggest new Research Principles for the Science of Economics, which acknowledge uncertainty as an economic fundamental. Based on the new principles of economics of coherence and believability I develop the fictional choice approach as a new theory of choice in an economy that is fundamentally uncertain to different degrees. Keywords: Positive Economic Theory; Economic Thought; Ideas Perspective; Uncertainty Paradigm; Economic Philosophy (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-319-55351-1_1 Ordering information: This item can be ordered from DOI: 10.1007/978-3-319-55351-1_1 Access Statistics for this chapter More chapters in Contributions to Economics from Springer |
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