Søren Johansen
By this expert
Asset Prices Under Knightian Uncertainty
A tractable formalization of the Knightian uncertainty faced by an economist and market participants in an intertemporal asset-price model.
The Knightian Uncertainty Hypothesis: Unforeseeable Change and Muth’s Consistency Constraint in Modeling Aggregate Outcomes
This paper introduces the Knightian Uncertainty Hypothesis (KUH), a new approach to macroeconomics and finance theory.
The Qualitative Expectations Hypothesis
Model Ambiguity, Consistent Representations of Market Forecasts, and Sentiment
Featuring this expert
Why We Need the Knightian Uncertainty Hypothesis
INET’s President introduces a new research program that challenges orthodox assumptions about the limits of economic knowledge
INET Announces Program on Knightian Uncertainity Economics
Rethinking the role of markets and government policy in light of our inherently limited ability to foresee economic and social outcomes
Knightian Uncertainty Economics (KUE)
Rethinking the role of markets and government policy in light of our inherently limited ability to foresee economic and social outcomes