Positive Effects of Uncertainty (on Decision-Making)

Richard J. Arend ()
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Richard J. Arend: University of Southern Maine

Chapter Chapter 7 in Uncertainty in Strategic Decision Making, 2024, pp 127-136 from Springer

Abstract: Abstract Explains the main benefits that uncertainty can produce, including several very important ones for humanity. Explains how uncertainty acts as a signal of potential (and theoretical) benefits. Describes real rewards from uncertainties and the conditions conducive for them, in addition to which entities are more likely to enjoy them. Argues, like Knight (1921) and others have, that uncertainty is important for the progress of humankind overall, and for each human as well; as such, it deserves greater attention in our choices, and in our policies.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-48553-4_7

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DOI: 10.1007/978-3-031-48553-4_7

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