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Kenneth Arrow - That economic decisions are made...
That economic decisions are made without certain knowledge of the consequences is pretty self-evident. But, although many economists were aware of this elementary fact, there was no systematic analysis of economic uncertainty until about 1950. (Kenneth Arrow)

That economic decisions are made without certain knowledge of the consequences is pretty self-evident. But, although many economists were aware of this elementary fact, there was no systematic analysis of economic uncertainty until about 1950.

Kenneth Arrow

Related topics

analysis certain elementary fact knowledge pretty uncertainty consequences

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