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  1. System effects and the problem of prediction.Jeffrey Friedman - 2012 - Critical Review: A Journal of Politics and Society 24 (3):291-312.
    Robert Jervis's System Effects (1997) shares a great deal with game theory, complex-systems theory, and systems theory in international relations, yet it transcends them all by taking account of the role of ideas in human behavior. The ideational element inserts unpredictability into Jervis's understanding of system effects. Each member of a ?system? of interrelated actors interprets her situation to require certain actions based on the effects these will cause among other members of the system, but these other actors' responses to (...)
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  • De Finetti on the Insurance of Risks and Uncertainties.Alberto Feduzi, Jochen Runde & Carlo Zappia - 2012 - British Journal for the Philosophy of Science 63 (2):329-356.
    In the insurance literature, it is often argued that private markets can provide insurance against ‘risks’ but not against ‘uncertainties’ in the sense of Knight ([1921]) or Keynes ([1921]). This claim is at odds with the standard economic model of risk exchange which, in assuming that decision-makers are always guided by point-valued subjective probabilities, predicts that all uncertainties can, in theory, be insured. Supporters of the standard model argue that the insuring of highly idiosyncratic risks by Lloyd's of London proves (...)
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