At its core, economics is about making decisions. In the history of economic thought, great intellectual prowess has been exerted toward devising exquisite theo

The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of

Whether we like it or not we all feel that the world is uncertain. From choosing a new technology to selecting a job, we rarely know in advance what outcome wil

A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot

This book describes the classical axiomatic theories of decision under uncertainty, as well as critiques thereof and alternative theories. It focuses on the mea