The Economics of Ignorance and Coordination

The Economics of Ignorance and Coordination

Author: Thierry Aimar

Publisher: Edward Elgar Publishing

Published: 2014-05-14

Total Pages: 319

ISBN-13: 1781007810

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This book clarifies the specific nature of the Austrian theory and restores the unity and open-mindedness of the Austrian school in general. The intention is not to offer a collection of different or parallel ideas, but rather to retrace, from a pedagogic


Ignorance and Uncertainty

Ignorance and Uncertainty

Author: Olivier Compte

Publisher: Cambridge University Press

Published: 2019

Total Pages: 303

ISBN-13: 1108422020

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Proposes novel methods to incorporate ignorance and uncertainty into economic modeling without complex mathematics.


Prices and Knowledge

Prices and Knowledge

Author: Esteban F. Thomsen

Publisher: Routledge

Published: 2002-01-22

Total Pages: 159

ISBN-13: 1134915578

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The growth of information economics has lead to a substantial re-consideration of the role of prices. Instead of the conventional neo-classical view of prices as straightforward indicators of scarcity, information economics emphasises that prices can be sources from which agents infer information and means by which they communicate. Prices and Knowledge analyses different theoretical approaches to the role of prices in situations of imperfect information. It shows that whilst the `informational efficiency' approach of Grossman and Stiglitz and the `bounded rationality theory' of Nelson and Simon are useful, neither goes far enough in considering situations of disequilibrium.


The Oxford Handbook of Mutual, Co-operative, and Co-owned Business

The Oxford Handbook of Mutual, Co-operative, and Co-owned Business

Author: Jonathan Michie

Publisher: Oxford University Press

Published: 2017

Total Pages: 705

ISBN-13: 0199684979

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This Handbook investigates all types of 'member owned' organizations, whether consumer co-operatives, agricultural and producer co-operatives, or worker co-operatives among many others. The chapters reflect the latest academic research and thinking on each topic, as well as reporting the relevant policy debates.


Ignorance and Surprise

Ignorance and Surprise

Author: Matthias Gross

Publisher: MIT Press

Published: 2010-05-07

Total Pages: 255

ISBN-13: 0262265613

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The relationship between ignorance and surprise and a conceptual framework for dealing with the unexpected, as seen in ecological design projects. Ignorance and surprise belong together: surprises can make people aware of their own ignorance. And yet, perhaps paradoxically, a surprising event in scientific research—one that defies prediction or risk assessment—is often a window to new and unexpected knowledge. In this book, Matthias Gross examines the relationship between ignorance and surprise, proposing a conceptual framework for handling the unexpected and offering case studies of ecological design that demonstrate the advantages of allowing for surprises and including ignorance in the design and negotiation processes. Gross draws on classical and contemporary sociological accounts of ignorance and surprise in science and ecology and integrates these with the idea of experiment in society. He develops a notion of how unexpected occurrences can be incorporated into a model of scientific and technological development that includes the experimental handling of surprises. Gross discusses different projects in ecological design, including Chicago's restoration of the shoreline of Lake Michigan and Germany's revitalization of brownfields near Leipzig. These cases show how ignorance and surprise can successfully play out in ecological design projects, and how the acknowledgment of the unknown can become a part of decision making. The appropriation of surprises can lead to robust design strategies. Ecological design, Gross argues, is neither a linear process of master planning nor a process of trial and error but a carefully coordinated process of dealing with unexpected turns by means of experimental practice.


Democracy and Political Ignorance

Democracy and Political Ignorance

Author: Ilya Somin

Publisher: Stanford University Press

Published: 2013-10-02

Total Pages: 277

ISBN-13: 0804789312

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One of the biggest problems with modern democracy is that most of the public is usually ignorant of politics and government. Often, many people understand that their votes are unlikely to change the outcome of an election and don't see the point in learning much about politics. This may be rational, but it creates a nation of people with little political knowledge and little ability to objectively evaluate what they do know. In Democracy and Political Ignorance, Ilya Somin mines the depths of ignorance in America and reveals the extent to which it is a major problem for democracy. Somin weighs various options for solving this problem, arguing that political ignorance is best mitigated and its effects lessened by decentralizing and limiting government. Somin provocatively argues that people make better decisions when they choose what to purchase in the market or which state or local government to live under, than when they vote at the ballot box, because they have stronger incentives to acquire relevant information and to use it wisely.


Austrian Economics Re-examined

Austrian Economics Re-examined

Author: Gerald P O'Driscoll Jr

Publisher: Routledge

Published: 2014-12-05

Total Pages: 469

ISBN-13: 1317691350

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Austrian Economics Re-examined: The Economics of Time and Ignorance is an expanded version of the 1996 edition of The Economics of Time and Ignorance. This work is a classic statement of the role of subjectivism, radical uncertainty and change through real time in Austrian economics specifically, and in modern economics more generally. The new book contains the full text and Introductions of the earlier edition as well as the comprehensive previously-unpublished essay "What is Austrian Economics?" and a new Introduction. The essay is a comprehensive overview of the central themes of the book from a somewhat different perspective than in the book itself. It supplements the analysis in the book. The new Introduction explains that the 2007-8 financial crisis and recent developments in behavioural economics have made the book more relevant than ever before. Austrian Economic Re-examined develops and systematizes the fundamental principles of the Austrian tradition to the analysis of rational expectations, business cycles, monetary theory competition and monopoly, and capital theory. The Open Access version of this book, available at https://www.taylorfrancis.com/books/oa-edit/10.4324/9781315776736, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.


Looking Forward

Looking Forward

Author: Michael Albert

Publisher: South End Press

Published: 1991

Total Pages: 172

ISBN-13: 9780896084056

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How work can be organized efficiently and productively without hierarchy; how consumption could be fulfilling and also equitable; and how participatory is planning could promote solidarity and foster self-management.


Friedrich A. Hayek

Friedrich A. Hayek

Author: John Cunningham Wood

Publisher: Taylor & Francis US

Published: 2004

Total Pages: 398

ISBN-13: 9780415310581

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Hayek's work continues to have a huge influence and this collection will chart the various responses to his work up to the present day, addressing the many and multifaceted contributions that his work has made to the study of economics.