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.
Shackle's Ultra-Subjective Approach to the Decision-Making Problem under Uncertainty
FONTINI, FULVIO
2010
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.
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