The Economics of Uncertainty. (PSME-2), Volume 2

Karl Hendrik Borch

Published by Princeton University Press 1968

The Economics of Uncertainty. (PSME-2), Volume 2

Karl Hendrik Borch

Volume 2084 in the series Princeton Studies in Mathematical Economics

In the series Princeton Legacy Library

https://doi.org/10.1515/9781400874767

Overview
Contents

About this book

Game theory has brought into economics an uncertainty principle similar to the one brought into physics by the quantum theory. Professor Barch's main purpose in this book is to show how one can construct realistic economic theories by taking uncertainty into account instead of dismissing it. He brings together a number of recent developments in different fields of economics and other social sciences in which uncertainty and chance play a central role and shows that they really constitute an entity. These developments include the revisions of utility, the introduction of game theory as a basic tool, and the view of the foundations of probability theory adopted by modern Bayesian statisticians.

Originally published in 1968.

The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Topics

Frontmatter Publicly Available Download PDF	i
Preface Requires Authentication Unlicensed Licensed Download PDF	v
Contents Publicly Available Download PDF	vii
Chapter I. The Economics of Uncertainty Requires Authentication Unlicensed Licensed Download PDF	1
Chapter II. Economic Decisions under Uncertainty Requires Authentication Unlicensed Licensed Download PDF	11
Chapter III. The Bernoulli Principle Requires Authentication Unlicensed Licensed Download PDF	23
Chapter IV. Applications of the Bernoulli Principle Some Illustrations Requires Authentication Unlicensed Licensed Download PDF	34
Chapter V. Portfolio Selection Requires Authentication Unlicensed Licensed Download PDF	47
Chapter VI. The Bernoulli Principle— Observations and Experiments Requires Authentication Unlicensed Licensed Download PDF	62
Chapter VII. Decisions with Unknown Probabilities Requires Authentication Unlicensed Licensed Download PDF	77
Chapter VIII. Market Equilibrium under Uncertainty Requires Authentication Unlicensed Licensed Download PDF	88
Chapter IX. The Two-person Zero-sum Game Requires Authentication Unlicensed Licensed Download PDF	109
Chapter X. The General Two-person Game Requires Authentication Unlicensed Licensed Download PDF	129
Chapter XI. Elements of the General Game Theory Requires Authentication Unlicensed Licensed Download PDF	150
Chapter XII. The Objectives of the Firm Requires Authentication Unlicensed Licensed Download PDF	166
Chapter XIII. Survival and the Objectives of the Firm Requires Authentication Unlicensed Licensed Download PDF	181
Chapter XIV. Credibility and Subjective Probabilities Requires Authentication Unlicensed Licensed Download PDF	202
Chapter XV. Group Decisions Requires Authentication Unlicensed Licensed Download PDF	214
Index Requires Authentication Unlicensed Licensed Download PDF	225