Expectation in Economics

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Cambridge University Press, Dec 13, 2012 - Business & Economics - 162 pages
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First published in 1952, as the second edition of a 1949 original, this book contains a discussion of the role of expectation in relation to the workings of the economy. For the purposes of the discussion, expectation is defined as the act of creating imaginary situations, of associating them with named future dates, and of assigning to each of the hypotheses thus formed a place on a scale measuring the degree of belief that a specified course of action will make this hypothesis come true. The text also contains appendices and a detailed index. This book will be of value to anyone with an interest in economic theory and methods of dealing with economic uncertainty.
 

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Contents

INTRODUCTION page
1
THE NATURE OF EXPECTATION page
9
On Gamblerpreference page
31
The efiect on the inducement to invest of the actual experience
35
On the Nature and Meaning
37
Changes in his State of
43
THE CHOICE OF ASSETS TO BE HELD FOR SPECULATIVE
77
DESIGN or TAXATION TO PRESERVE THE INCENTIVE
94
A THEORY OF THE BARGAINING PROCESS page
101
A COMPARISON WITH THE ORTHODOX VIEW page
109
uncertainty of mind Meaninglessness of the question whether such
120
THE FORMAL PROPERTIES or THE CONCEPT or POTENTIAL
128
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