Probability in Economics: 1st Edition (Paperback) book cover

Probability in Economics

1st Edition

By Omar Hamouda, Robin Rowley


212 pages

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pub: 2013-12-16
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Notions of probability and uncertainty have been increasingly prominant in modern economics. This book considers the philosophical and practical difficulties inherent in integrating these concepts into realistic economic situations. It outlines and evaluates the major developments, indicating where further work is needed.

This book addresses:

* probability, utility and rationality within current economic thought and practice

* concepts of ignorance and indeterminancy

* experimental economics

* econometrics, with particular reference inference and estimation.

About the Series

Routledge Frontiers of Political Economy

In recent years, there has been widespread criticism of mainstream economics. This has taken many forms, from methodological critiques of its excessive formalism, to concern about its failure to connect with many of the most pressing social issues. This series provides a forum for research which is developing alternative forms of economic analysis. Reclaiming the traditional 'political economy' title, it refrains from emphasising any single school of thought, but instead attempts to foster greater diversity within economics.

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Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Economics / General