Theory and Decision 52 (2):127-138 (2002)
|Abstract||In normative decision theory, the weight of an uncertain event in a decision is governed solely by the probability of the event. A large body of empirical research suggests that a single notion of probability does not accurately capture peoples' reactions to uncertainty. As early as the 1920s, Knight made the distinction between cases where probabilities are known and where probabilities are unknown. We distinguish another case â- the unknowable uncertainty â- where the missing information is unavailable to all. We propose that missing information influences the attractiveness of a bet contingent upon an uncertain event, especially when the information is available to someone else. We demonstrate that the unknowable uncertainty â- falls in preference somewhere in between the known and the known uncertainty|
|Keywords||No keywords specified (fix it)|
|Through your library||Configure|
Similar books and articles
Stephen Morris (1997). Risk, Uncertainty and Hidden Information. Theory and Decision 42 (3):235-269.
Sven Ove Hansson (2009). From the Casino to the Jungle. Synthese 168 (3):423 - 432.
Sven Ove Hansson (1996). Decision Making Under Great Uncertainty. Philosophy of the Social Sciences 26 (3):369-386.
A. Feduzi, J. Runde & C. Zappia (2012). De Finetti on the Insurance of Risks and Uncertainties. British Journal for the Philosophy of Science 63 (2):329-356.
Glenn Tiller (2006). The Unknowable: The Pragmatist Critique of Matter. Transactions of the Charles S. Peirce Society 42 (2):206-228.
Dorothy Edgington (2010). Possible Knowledge of Unknown Truth. Synthese 173 (1).
L. B. McCullough (2012). Responsibly Managing Uncertainties In Clinical Ethics. Journal of Medicine and Philosophy 37 (1):1-5.
Donald R. Griffin (2003). Significant Uncertainty is Common in Nature. Behavioral and Brain Sciences 26 (3):346-346.
Sven Ove Hansson (2009). Measuring Uncertainty. Studia Logica 93 (1).
Matthew C. Wilson (2009). Creativity, Probability and Uncertainty. Journal of Economic Methodology 16 (1):45-56.
Benjamin Djulbegovic (2007). Articulating and Responding to Uncertainties in Clinical Research. Journal of Medicine and Philosophy 32 (2):79 – 98.
Barbara Osimani (2012). Risk Information Processing and Rational Ignoring in the Health Context. Journal of Socio-Economics 41:169-179.
Giuseppe Fontana & Bill Gerrard (1999). Disequilibrium States and Adjustment Processes: Towards a Historical-Time Analysis of Behaviour Under Uncertainty. Philosophical Psychology 12 (3):311 – 324.
Niki Pfeifer (2007). Rational Argumentation Under Uncertainty. In G. Kreuzbauer, N. Gratzl & E. Hiebl (eds.), Persuasion Und Wissenschaft: Aktuelle Fragestellungen von Rhetorik Und Argumentationstheorie. Lit.
Added to index2010-09-02
Total downloads4 ( #180,507 of 556,840 )
Recent downloads (6 months)1 ( #64,931 of 556,840 )
How can I increase my downloads?