The Economy Of Certainty
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The Economy Of Certainty
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Author : Aron Zysow
language : en
Publisher: Lockwood Press
Release Date : 2014-06-23
The Economy Of Certainty written by Aron Zysow and has been published by Lockwood Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-23 with Religion categories.
Aron Zysow's 1984 Ph.D. dissertation, "The Economy of Certainty," remains the most important, compelling, and intellectually ambitious treatment of Islamic legal theory (usul al-fiqh) in Western scholarship to date. It continues to be widely read and cited, and remains unsurpassed in its incisive analysis of the most fundamental assumptions of Islamic legal thought. Zysow argues that the great dividing line in Islamic legal thought is between those legal theories that require certainty in every detail of the law and those that will admit probability. The latter were historically dominant and include the leading legal schools that have survived to our own day. Zahirism and, for much of its history, Twelver Shi'ism, are examples of the former. The well-known dispute regarding the legitimacy of juridical analogy is only one feature of this fundamental epistemological division, since probability can enter the law in the process of authenticating prophetic traditions and in the interpretation of the revealed texts, as well as through analogy. The notion of consensus in Islamic legal theory functioned to reintroduce some measure of certainty into the law by identifying one of the competing probable solutions as correct. Consequently consensus has only a reduced role, if any, in those systems that reject probability. Another, more radical, means of regaining certainty was the doctrine that regarded the legal reasoning of all qualified jurists on matters of probability as infallible. The development of legal theories of both types, that of Zahirism no less than that of Hanafism, was to a large extent shaped by theology and, most significantly, by Mu'tazilism, and subsequently by Ash'arism and Maturidism. Zysow's important work is published here in full, for the first time, with updated references and some further reflections by the author.
The Limits To Certainty
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Author : O. Giarini
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
The Limits To Certainty written by O. Giarini and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
I consider it a privilege to have been invited to write a preface for "The Limits to Certainty". It is however paradoxical that a theo retical physicist be asked to write about a monograph dealing mainly with service economics. Notwithstanding, I am delighted to do so. Indeed, it is striking that two so widely different fields like physics and social science, and more especially economics, can interact in such a constructive way. There is no question here of reductionism. Nobody claims to be able to reduce social scien ces to physics, nor to use patterns of social interaction in order to formulate new laws for atoms. What is at stake here is more im portant than reduction; the age-old separation between the so-cal led "hard" and "soft sciences" is breaking down. This separation has a long history. First, one should recall the influence of Newton's achievement on the formulation of scienti fic goals. This influence led to the formulation of equilibrium mo dels for supply/demand adjustment. As was noticed by Walter Weisskopf: "the Newtonian paradigm underlying classical and non-classical economics interpreted the economy according to the patterns developed in classical physics and mechanics, in analogy to the planetary system, to a machine or clockwork: a closed auto nomous system ruled by endogenous factors of a highly selective nature, self-regulating and moving to a determinate, predictable point of equilibrium" (The Geneva Papers on Risk and Insurance (1984), Vol. 9, no. 33, pp. 335-360).
The Limits To Certainty
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Author : Orio Giarini
language : en
Publisher: Springer
Release Date : 1989-11-30
The Limits To Certainty written by Orio Giarini and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989-11-30 with Business & Economics categories.
Contractual Certainty In International Trade
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Author : Volkmar Gessner
language : en
Publisher:
Release Date : 2009
Contractual Certainty In International Trade written by Volkmar Gessner and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Contracts categories.
Global business interacts efficiently despite the heterogeneity of social, economic and legal cultures which, according to widespread assumptions, cause insecurities and uncertainties. Breaches of contracts may occur more frequently and business relationships may be terminated more often in international than in domestic trade. But most business people engaged in exporting or importing products or services seem to operate in a sufficiently predictable environment allowing successful ventures into the global market. The apparent paradox presented by cultural/institutional diversity and contractual efficiency in cross-border business transactions is the focus of this volume of essays. The wide range of approaches adopted by contributors to the volume include: the Weberian concept of law as a tool for avoiding the risk of opportunism; economic sociology, which treats networks and relationships between contractual parties as paramount; representatives of new institutional economics who discuss law as well as private governance institutions as most efficient responses to risk; comparative economic sociologists who point to the varieties of legal cultures in the social organisation of trust; and national and international institutions such as the World Bank which try to promote legal certainty in the economy. The purpose of the volume is to build on this interdisciplinary exercise by adding empirical evidence to ongoing debates regarding enabling structures for international business, and by critically reviewing and discussing some of the propositions in the literature which contain interesting hypotheses on the effects of the internationalization of markets on market co-ordination institutions and on the role of the state in the globalising economy.
Essays In The Economics Of Uncertainty
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Author : Jean-Jacques Laffont
language : en
Publisher: Harvard University Press
Release Date : 1980
Essays In The Economics Of Uncertainty written by Jean-Jacques Laffont and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Business & Economics categories.
These three elegant essays develop principles central to the understanding of the diverse ways in which imperfect information affects the distribution of resources, incentives, and the evaluation of economic policy. The first concerns the special role that information plays in the allocation process when it is possible to improve accuracy through private investment. The common practice of hiring "experts" whose information is presumably much better than their clients' is analyzed. Issues of cooperative behavior when potential group members possess diverse pieces of information are addressed. Emphasis is placed on the adaptation of the "core" concept from game theory to the resource allocation model with differential information. The second essay deals with the extent to which agents can influence the random events they face. This is known as moral hazard, and in its presence there is a potential inefficiency in the economic system. Two special models are studied: the role of moral hazard in a monetary economy, and the role of an outside adjudicatory agency that has the power to enforce fines and compensation. The final essay discusses the problem of certainty equivalence in economic policy. Conditions under which a full stochastic optimization can be calculated by solving a related, much simpler "certainty equivalence" problem are developed. The reduction in the complexity of calculation involved is very great compared with the potential loss of efficiency.
The Search For Certainty
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Author : W. W. Spradlin
language : en
Publisher:
Release Date : 1984-03-12
The Search For Certainty written by W. W. Spradlin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984-03-12 with categories.
Benefit Estimation Under Certainty
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Author :
language : en
Publisher:
Release Date : 1988
Benefit Estimation Under Certainty written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Cost effectiveness categories.
Risk Uncertainty And Profit
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Author : Frank H. Knight
language : en
Publisher: Cosimo, Inc.
Release Date : 2006-11-01
Risk Uncertainty And Profit written by Frank H. Knight and has been published by Cosimo, Inc. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-11-01 with Business & Economics categories.
A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
The Impact Of Uncertainty And Certainty Shocks
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Author : Yves S. Schüler
language : en
Publisher:
Release Date : 2020
The Impact Of Uncertainty And Certainty Shocks written by Yves S. Schüler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
I propose a Bayesian quantile VAR to identify and assess the impact of uncertainty and certainty shocks, unifying Bloom's (2009) two identification steps into one. I find that an uncertainty shock widens the conditional distribution of future real economic activity growth, in line with a risk shock. Conversely, a certainty shock (a shock strongly decreasing uncertainty) narrows the conditional distribution of future real activity growth. In addition to the difference in signs, I show that the two shocks are different shocks. Each shock impacts the real economy uniquely. I support this with the underlying events: For instance, uncertainty shocks relate to events such as Black Monday and 9/11, but also to fears about future negative economic outcomes. In contrast, certainty shocks often link to phases of irrational exuberance. Commonly, no distinction is made between uncertainty and certainty shocks. I show that uncertainty shocks become more important if distinguished from certainty shocks.
New Voices And New Perspectives In International Economic Law
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Author : John D. Haskell
language : en
Publisher: Springer Nature
Release Date : 2019-12-10
New Voices And New Perspectives In International Economic Law written by John D. Haskell and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-10 with Law categories.
This book brings together a series of contributions by international legal scholars that explore a range of subjects and themes in the field of international economic law and global economic governance through a variety of methodological and theoretical lenses. It introduces the reader to a number of different ways of constructing and approaching the study of international economic law. The book deals with a series of different theoretical agendas and perspectives ranging from the more traditional (empirical legal studies) to the more alternative (language theory) and it expands the scope of substantive discussion and thematic coverage beyond the usual suspects of international trade, international investment and international finance. While the volume still gives due recognition to the traditional theoretical project of international economic law, it invites the reader to extend the scope of disciplinary imagination to other, less commonly acknowledged questions of global economic governance such as food security, monetary unions, and international economic coercion. In addition to historically-focused and critical perspectives, the volume also includes a number of programmatic and forward-looking explorations, which makes it appealing to a broad audience with a variety of contrasting interests. Therefore, the volume is of particular interest to academics and postgraduate students in the fields of international law, international relations, international political economy, and international history.