"Uncertainty, Evolution, and Economic Theory" is an article published in 1950 which was written by economist Armen Alchian. In this article, Alchian delineates...

Behavior and Economic Theory". Journal of Political Economy. 70 (1): 1–13. ISSN 0022-3808. Alchian, Armen A. (1950). "Uncertainty, Evolution, and Economic Theory"...

axiomatic theory of expected utility, which allowed mathematical statisticians and economists to treat decision-making under uncertainty. Game theory was developed...

methods from other fields. Economic history examines the evolution of the economy and economic institutions, using methods and techniques from the fields...

economic theory which were published before the field of Behavioral Economics emerged, the first is the paper "Uncertainty, Evolution, and Economic Theory"...

management and organizational studies. It draws from research in the natural sciences that examines uncertainty and non-linearity. Complexity theory emphasizes...

it for discussing market behavior in his seminal paper Uncertainty, Evolution and Economic Theory; Paul Davidson incorporated it as an essential element...

game theory is a critical principle of economic theory, and assumes that people's strategic decisions are shaped by rationality, selfishness and utility...

of Economic Behavior and Organization. 43 (2): 223–238. doi:10.1016/S0167-2681(00)00117-7. Alchian, A. (1950). "Uncertainty, Evolution and Economic Theory"...

from [12] on March 24, 2023. Alchian, A. A. (1950). Uncertainty, Evolution, and Economic Theory. Journal of Political Economy, 58(2), pp. 211-22. Archived...

This definition comes from Willett's "Economic Theory of Risk and Insurance" (1901). This links "risk" to "uncertainty", which is a broader term than chance...

in two volumes. His most significant articles are: "Uncertainty, Evolution, and Economic Theory" (1950): It is Alchian's first major paper that brought...

Viability theory is an area of mathematics that studies the evolution of dynamical systems under constraints on the system state. It was developed to...

field of control theory that deals with the existence of uncertainty either in observations or in the noise that drives the evolution of the system. The...

Charles Darwin published his 1859 book On the Origin of Species, his theory of evolution (the idea that species arose through descent with modification from...

various macroeconomic theories and models of how aggregate demand (total spending in the economy) strongly influences economic output and inflation. In the...

natural systems, uncertainty, and power. In the mid-19th century, such thinkers as Auguste Comte, Thomas Carlyle, John Ruskin and Karl Marx made early...

31 Alchian A. "Uncertainty, Evolution, and Economic Theory", Journal of Political Economy, Vol.58, 1950 Brunner K. "The Role of Money and Monetary Policy"...

implement a cost-benefit analysis to determine risks and benefits. The theory also involves economic relationships—the cost-benefit analysis occurs when...

Economics, v. 4, pp. 101–02. "The Quantity Theory of Money: Its Historical Evolution and Role in Policy Debates". Economic Review. May 1974. Irving Fisher (1911)...

branch of economic theory that examines the behavior of economic agents and markets in situations where traditional approaches of economic equilibrium...

optimally. It is a wordplay on Homo sapiens, used in some economic theories and in pedagogy. In game theory, Homo economicus is often (but not necessarily) modelled...

communication can be invigorating and is often memorable when people are engaged and in the moment. Uncertainty reduction theory, developed in 1975, comes from...

Law and economics, or economic analysis of law, is the application of microeconomic theory to the analysis of law. The field emerged in the United States...

Chaos theory (or chaology) is an interdisciplinary area of scientific study and branch of mathematics. It focuses on underlying patterns and deterministic...

are subject to uncertainty and a measurement result is complete only when it is accompanied by a statement of the associated uncertainty, such as the standard...

differs with respect to a medium's richness. The theory assumes that resolving ambiguity and reducing uncertainty are the main goals of communication. Because...

from evolutionary theory itself: survival, mating, parenting, family and kinship, interactions with non-kin, and cultural evolution. Problems of survival...

and distance; uncertainty about control of the initiative; and the nature of adversaries' mutual perceptions of each other." In game theory, a player's...

applying theories and methods originally developed by physicists in order to solve problems in economics, usually those including uncertainty or stochastic...