NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Uncertainty Outside and Inside Economic Models

Lars Peter Hansen

NBER Working Paper No. 20394
Issued in August 2014
NBER Program(s):Asset Pricing

We must infer what the future situation would be without our interference, and what changes will be wrought by our actions. Fortunately, or unfortunately, none of these processes is infallible, or indeed ever accurate and complete. Knight (1921)

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Document Object Identifier (DOI): 10.3386/w20394

Published: Nobel Lecture: Uncertainty Outside and Inside Economic Models Lars Peter Hansen Journal of Political Economy 2014 122:5, 945-987

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