Imperfect Knowledge
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Working paper
Networks in the Laboratory
Feb 2015
This chapter surveys experimental research on networks in economics.
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Much Ado About Cyber Security
Jan 5, 2015
Private data is leaked more and more in our society. Wikileaks, Facebook, and identity theft are just three examples. Network defenses are constantly under attack from cyber criminals, organized hacktivists, and even disgruntled ex-employees.
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Conference paper
Toward an Intellectual History of Uncertainty
Apr 2014
Economists discussing the problem of radical uncertainty commonly invoke Frank Knight’s classic definition in Risk, Uncertainty and Profit, but only rarely venture to explore the broader contours of his argument.
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The Economics of Radical Uncertainty
Apr 10, 2014 | 11:00—12:30
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Reflexivity and Knightean Uncertainty: Implications for Economics
Apr 10, 2014 | 02:45—04:00
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Modeling a World of Imperfect Knowledge
Dec 21, 2013
Does it matter if the Rational Expectations Hypothesis is unrealistic?
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Our Hansen Moment
Dec 5, 2013
The main goal of the macroeconomist is to understand the sources behind business cycles and the behavior of financial markets in the modern economy.
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Finance and the Death of Trust
Oct 27, 2013
The destruction of trust is not an accident.
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We Can Do Better
Oct 24, 2013
In the aftermath of the 2008 financial crisis, distrust in the financial sector was widespread. Even after the mess appeared to be cleaned up, the uncertainty over whether the worst was over remained real.
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Trust and Finance
Oct 24, 2013
Finance is built on trust. It is based on promises about tomorrow, often paper promises backed by nothing other than words on a page. When trust in those promises breaks down, so too does the financial system. That is the lesson of thousands of years of history.
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What is Economic Success?
Oct 11, 2013
“You are now leaving the world as you know it.”
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Five Years on from Lehman: The More Things Change, the More They Stay the Same
Sep 22, 2013
Sadly, it is questionable whether the economy has really improved.
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Lehman Was Not Alone – Measuring System Risk in the 2008 Crisis
Sep 21, 2013
what would measures of systematic risk have indicated to Treasury Secretary Paulsen if they had been available at that time?
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The Failure of Free-Market Finance
Sep 16, 2013
Five years after the collapse of the U.S. investment bank Lehman Brothers, the world has still not addressed the fundamental cause of the subsequent financial crisis – an excess of debt. And that is why economic recovery has progressed much more slowly than anyone expected (in some countries, it has not come at all).
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Economic Analysis Isn’t Objective – It’s As Personal As It Gets
Sep 14, 2013
What happens when professionals lose touch with the people they’re supposed to serve?