Substantive and Procedural Uncertainty: An Exploration of Economic Behaviours in Changing Environments

Giovanni Dosi and Massimo Egidi

Journal of Evolutionary Economics, 1991, vol. 1, issue 2, 145-68

Abstract: Different sources of uncertainty are analysed and a representation of decision-making in principle consistent with behavioural evidence is proposed. The endogenous emergence of "innovations," in the forms of unexpected events and novel behaviors is also examined.

Date: 1991
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Chapter: Substantive and Procedural Uncertainty: An Exploration of Economic Behaviours in Changing Environments (2000)
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