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Chance, probability, and uncertainty at the edge of human reasoning: What is Knightian uncertainty?
Strategic Entrepreneurship Journal ( IF 5.4 ) Pub Date : 2024-08-02 , DOI: 10.1002/sej.1516
David M. Townsend 1 , Richard A. Hunt 1 , Judy Rady 1
Affiliation  

For more than a century, Frank Knight's Risk, Uncertainty, and Profit has significantly influenced entrepreneurship theory development by exploring the nature of uncertainty and the epistemic limits of entrepreneurial action. Knight's work highlights how economic actors cannot fully predict the consequences of their actions. Despite its broad influence, debates persist regarding the nature of Knightian uncertainty. This study addresses these debates through a comprehensive analysis of RUP and Knight's other published and unpublished writings to offer new insights into the nature and meaning of Knightian uncertainty, revealing Knight's holistic theory that integrates “real indeterminism,” “partial knowledge,” and “subjective beliefs.” This analysis provides much needed construct clarity to advance contemporary theories of entrepreneurial action and the role of uncertainty in business venturing processes.

中文翻译:


人类推理边缘的机会、概率和不确定性:什么是奈特不确定性?



一个多世纪以来,弗兰克·奈特的《风险不确定性和利润》通过探索不确定性的本质和创业行为的认知极限,对创业理论的发展产生了重大影响。奈特的工作强调了经济行为者如何无法完全预测其行为的后果。尽管影响广泛,但关于奈特不确定性本质的争论仍然存在。本研究通过对RUP和奈特其他已发表和未发表的著作的综合分析来解决这些争论,以提供对奈特不确定性的本质和含义的新见解,揭示奈特整合了“真正的非决定论”、“部分知识”和“主观”的整体理论。的信念。”该分析提供了急需的结构清晰度,以推进当代创业行为理论以及不确定性在商业风险投资过程中的作用。
更新日期:2024-08-02
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