Fontini F. (2010)

Shackle’s Ultra-Subjective Approach to the Decision-Making Problem under Uncertainty. Rivista di storia del pensiero economico. 

 

Abstract:

This note focuses on Shackle’s reconstruction of the decision-making problem under uncertainty, based on the “ultra-subjective” potential surprise concept. The limits and properties of potential surprise are discussed. It is shown that only a limited type of uncertainty can be treated within such a framework.