Imperfect Knowledge

    Imperfect Knowledge Economics develops macroeconomic models that are open to unforeseeable structural change and avoid the presumption that market participants are irrational. This program is also developing econometric methodology that is suitable for testing time-series implications of IKE models.

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    Change and Expectations in Macroeconomic Models: Recognizing the Limits to Knowability

    In modern economies, individuals and companies engage in innovative activities, discovering new ways to use existing physical and human capital, and new technologies in which to invest. The institutional and broader social context within which these activities take place also changes in novel ways. Read more

    Human Decisions

    Apr 11, 2012 | 03:00—04:45

    Paradigm Lost

    Apr 11, 2012 | 09:15—10:15