Journal of Economic Methodology 16 (1):57-69 (2009)
The purpose of the paper is to explore the potential for using fuzzy logic to analyse economic decision?making under Keynesian uncertainty, and in particular in circumstances where variety of opinion is important. Fuzzy logic is shown to apply where expectations may differ because the nature of the subject matter impedes any ?crisp? way of describing the underlying variables. The particular case of the speculative demand for money is considered, since it explicitly reflects variety of opinion as to whether interest rates are ?high? or ?low?
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References found in this work BETA
The General Theory of Employment, Interest and Money.John Maynard Keynes - 1936 - Macmillan.
The Meaning of Open Systems.Victoria Chick & Sheila Dow - 2005 - Journal of Economic Methodology 12 (3):363-381.
Keynesian Uncertainty and Liquidity Preference.Jochen Runde - 1994 - Cambridge Journal of Economics 18:129--144.
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