Don’t miss your chance to get Apress Access at $/€ 99 through Oct 29, 2019! Subscribe now >>

Evolutionary Economics and Social Complexity Science

J.M. Keynes Versus F.H. Knight

Risk, Probability, and Uncertainty

Authors: Sakai, Yasuhiro

Free Preview
  • Offers a systematic comparison of Keynes's earlier work on probability and Knight's well-known work on risk and uncertainty
  • Discusses the economics of nuclear power generation as an application of the Keynes–Knight approach
  • Highlights the necessity to unify Keynes and Knight into a new, comprehensive approach
see more benefits

Buy this book

eBook $79.99
price for USA (gross)
  • ISBN 978-981-13-8000-6
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $139.99
price for USA
  • ISBN 978-981-13-7999-4
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

This book critically discusses and systematically compares J.M. Keynes and F. H. Knight, two giants in the history of economic thought. In 1921 they both published apparently similar books on risk, probability, and uncertainty. However, while Knight's contribution on risk and uncertainty is now well recognized, Keynes's work on probability and uncertainty has been somewhat ignored in the shadow of his more famous The General Theory of Employment, Interest and Money (1936). Focusing on an earlier yet equally important volume by Keynes, A Treatise on Probability (1921), this book sheds a light on his outstanding ideas and the lasting influence on his later works, including The General Theory. There are few books that systematically discuss Keynes and Knight, although there are remarkable comparisons between Keynes's concept of probability and uncertainty and Knight's distinction between a measurable risk and a non-measurable uncertainty. This timely book unifies Keynes and Knight into a new, comprehensive approach to a very complex human behavior

About the authors

Yasuhiro Sakai, Center for Risk Research, Department of Economics, Shiga University

Table of contents (8 chapters)

Table of contents (8 chapters)
  • How My Life and Work Have Been Influenced by J.M. Keynes and F.H. Knight: Introduction and Summary

    Pages 3-15

    Sakai, Yasuhiro

  • On the Economics of Risk and Uncertainty: A Historical Perspective

    Pages 17-37

    Sakai, Yasuhiro

  • J.M. Keynes on Probability Versus F.H. Knight on Uncertainty: Reflections on the Miracle Year of 1921

    Pages 39-60

    Sakai, Yasuhiro

  • Daniel Ellsberg on J.M. Keynes and F.H. Knight: Risk, Ambiguity, and Uncertainty

    Pages 61-77

    Sakai, Yasuhiro

  • Involuntary Unemployment Versus “Involuntary Employment”: J.M. Keynes and Beyond

    Pages 81-100

    Sakai, Yasuhiro

Buy this book

eBook $79.99
price for USA (gross)
  • ISBN 978-981-13-8000-6
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $139.99
price for USA
  • ISBN 978-981-13-7999-4
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.

Services for this book

Loading...

Bibliographic Information

Bibliographic Information
Book Title
J.M. Keynes Versus F.H. Knight
Book Subtitle
Risk, Probability, and Uncertainty
Authors
Series Title
Evolutionary Economics and Social Complexity Science
Series Volume
18
Copyright
2019
Publisher
Springer Singapore
Copyright Holder
Springer Nature Singapore Pte Ltd.
eBook ISBN
978-981-13-8000-6
DOI
10.1007/978-981-13-8000-6
Hardcover ISBN
978-981-13-7999-4
Series ISSN
2198-4204
Edition Number
1
Number of Pages
XVI, 157
Number of Illustrations
28 b/w illustrations, 1 illustrations in colour
Topics