John Kay and Mervyn King - Radical Uncertainty: Decision-Making Beyond the Numbers

Category: Misc. Non-fiction, Science
Language: English
Keywords: Philosophy Probability Baysianism Induction Inference

Written by Radical Uncertainty: Decision-Making Beyond the Numbers
Read by Roger Davis
Format: MP3
Bitrate: 96 Kbps

Radical Uncertainty: Decision-Making Beyond the Numbers
By: John Kay, Mervyn King
Narrated by: Roger Davis
Length: 15 hrs and 50 mins
Unabridged Audiobook
Release date: 03-17-20
Language: English
Publisher: Recorded Books

Publisher’s summary

In a changing world, forecasts and numbers usually represent bogus quantification. Kay and King tell us how to think smarter.

Radical uncertainty changes the way we should think about decision-making. For over half a century economics has assumed that people behave rationally by optimizing among well-defined choices. Behavioral economics questioned how far people are rational, pointing to the cognitive biases that seem to describe actual behavior.

Radical Uncertainty is a bold, paradigm-shifting book that takes us past standard and behavioral economics, completely shifting our understanding of the role economics can play in decision-making. We can never have the information required to optimize. But the failure to come to terms with this reality has led us to build our largest financial organizations, develop major policy decisions, and create business structures on shifting sands - the false belief that the numbers provided by economic models give us the answer. They don’t. The best managers in the public and private sectors rely on narratives, not numbers.

©2020 John Kay; Mervyn King (P)2019 Hachette Audio UK