Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/110917
Authors: 
Müller, Christian
Year of Publication: 
2015
Series/Report no.: 
Economics Discussion Papers 2015-41
Abstract: 
This paper argues that radical uncertainty is the outcome of standard market activity. The theoretical findings are corroborated with empirical analyses. The model example is applied to asset pricing and radical uncertainty is found a solution to various asset pricing "puzzles". In conclusion, radical uncertainty should form the basis of economic analysis.
Subjects: 
rational expectations
uncertainty
subjectivity
JEL: 
F31
F47
C53
Creative Commons License: 
http://creativecommons.org/licenses/by/3.0/
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.