Switch to: References

Citations of:

Robustness

Princeton University Press (2007)

Add citations

You must login to add citations.
  1. Policymaking under scientific uncertainty.Joe Roussos - 2020 - Dissertation, London School of Economics
    Policymakers who seek to make scientifically informed decisions are constantly confronted by scientific uncertainty and expert disagreement. This thesis asks: how can policymakers rationally respond to expert disagreement and scientific uncertainty? This is a work of non-ideal theory, which applies formal philosophical tools developed by ideal theorists to more realistic cases of policymaking under scientific uncertainty. I start with Bayesian approaches to expert testimony and the problem of expert disagreement, arguing that two popular approaches— supra-Bayesianism and the standard model of (...)
    Download  
     
    Export citation  
     
    Bookmark   3 citations  
  • Complexity, economics, and public policy.Steven N. Durlauf - 2012 - Politics, Philosophy and Economics 11 (1):45-75.
    This article considers the implications of complex systems models for the study of economics and the evaluation of public policies. I argue that complexity can enhance current approaches to formal economic analysis, but does so in ways that complement current approaches. I further argue that while complexity can influence how public policy analysis is conducted, it does not delimit the use of consequentialist approaches to policy comparison to the degree initially suggested by Hayek and most recently defended by Gaus.
    Download  
     
    Export citation  
     
    Bookmark   4 citations  
  • Making Confident Decisions with Model Ensembles.Joe Roussos, Richard Bradley & Roman Frigg - 2021 - Philosophy of Science 88 (3):439-460.
    Many policy decisions take input from collections of scientific models. Such decisions face significant and often poorly understood uncertainty. We rework the so-called confidence approach to tackle decision-making under severe uncertainty with multiple models, and we illustrate the approach with a case study: insurance pricing using hurricane models. The confidence approach has important consequences for this case and offers a powerful framework for a wide class of problems. We end by discussing different ways in which model ensembles can feed information (...)
    Download  
     
    Export citation  
     
    Bookmark   4 citations  
  • (1 other version)Rationality of belief or: why savage’s axioms are neither necessary nor sufficient for rationality. [REVIEW]Itzhak Gilboa, Andrew Postlewaite & David Schmeidler - 2012 - Synthese 187 (1):11-31.
    Economic theory reduces the concept of rationality to internal consistency. As far as beliefs are concerned, rationality is equated with having a prior belief over a “Grand State Space”, describing all possible sources of uncertainties. We argue that this notion is too weak in some senses and too strong in others. It is too weak because it does not distinguish between rational and irrational beliefs. Relatedly, the Bayesian approach, when applied to the Grand State Space, is inherently incapable of describing (...)
    Download  
     
    Export citation  
     
    Bookmark   13 citations  
  • Ambiguity in asset pricing and portfolio choice: a review of the literature. [REVIEW]Massimo Guidolin & Francesca Rinaldi - 2013 - Theory and Decision 74 (2):183-217.
    We survey the literature that has explored the implications of decision-making under ambiguity for financial market outcomes, such as portfolio choice and equilibrium asset prices. This ambiguity literature has led to a number of significant advances in our ability to rationalize empirical features of asset returns and portfolio decisions, such as the failure of the two-fund separation theorem in portfolio decisions, the modest exposure to risky securities observed for a majority of investors, the home equity preference in international portfolio diversification, (...)
    Download  
     
    Export citation  
     
    Bookmark   2 citations