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.

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.

Sir John Hicks made a major contribution to almost every aspect of modern economic theory. His diverse and inventive work has left a huge impression on the discipline.
Contributors: Christopher Bliss, Oxford University; John S. Chipman, University of Minnesota; Nicholas Georgescu-Roegen, Vanderbilt University; Richard Goodwin, University of Siena; Frank H. Hahn, Cambridge University; John D. Hey, University of York; Charles M. Kennedy, University of Kent; David Laidler, University of Western Ontario; Axel Leijonhufvud, University of California, Los Angeles; Robin C.O. Matthews, Cambridge...