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| Author: | Dequech, D. |
| Title: | Uncertainty and Economic Sociology A Preliminary Discussion |
| Journal: | American Journal of Economics and Sociology
2003 : JUL, VOL. 62:3, p. 509-532 |
| Index terms: | UNCERTAINTY ECONOMICS SOCIOLOGY ANALYTICAL REVIEW |
| Language: | eng |
| Abstract: | The paper discusses the role of uncertainty in economic sociology, aiming to clarify some controversial issues in the related literature. Initially, some conceptual remarks are made about the relation between economic sociology, neoclassical economics, and rational choice theory. Next, in light of the existing literature on uncertainty and economic sociology, the authors distinguish between complexity and different types of uncertainty. The authors also identify different versions of the maximization hypothesis and examine their relations to the different types of uncertainty. Then the authors defend a concept of fundamental uncertainty that emphasizes the role of institutions. Finally, the authors suggest that the primary distinction should be that between approaches to economic issues. |
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