Introduction

Carlo Zappia ()
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Carlo Zappia: University of Siena

Chapter Chapter 1 in Uncertainty in Economics, 2025, pp 1-6 from Springer

Abstract: Abstract This chapter introduces the distinction between risk and uncertainty in economics. It describes the clash between the two visions that have characterized the history of the discipline: the approach that sees formalized science as capable of providing unambiguous answers in any context, even when knowledge is incomplete, and the countervailing perspective that denies that developments in rational choice theory allow uncertainty to be reduced to risk.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spshcp:978-3-031-91221-4_1

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DOI: 10.1007/978-3-031-91221-4_1

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