Access the full text.
Sign up today, get DeepDyve free for 14 days.
In any environment which allows for individual and groupenterprise, some degree of risk as well as elements of uncertainty andexpectation will be features of virtually every human endeavour. Thesethree decisionmaking categories are especially relevant where businessenterprise is concerned. In modern economics those concepts have beensubject to rigorous theoretical scrutiny as well as empiricalinvestigation of their incidence and relevance in economic life.Analysis of risk, uncertainty and expectations is also a feature ofTalmudic literature this is explored in the light of modern economics.First, the Talmudic scholars showed considerable sophisticationregarding the risk factor, called Zeyoona, as itis interrelated with the business phenomena of profit andloss. Second, their analysis of uncertaintydisplays an amazing degree of modernity in their approach to computationof uncertainties as well as in the methodology. Finally, there arepoints of contact between rational expectations theory and certainTalmudic emphasis in dealing with economic behaviour management of thefuture through rational forecasting and awareness of the role ofinformation in the formation of expectations.
International Journal of Social Economics – Emerald Publishing
Published: Nov 1, 1991
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.