The Economic Analysis of Random Events : Economic Perspectives on Probability Theory, Statistical Inference and the Nature of Chance

by Volkan Hacıoğlu

1. Introduction -- 2. The True Nature of Randomness and the Element of Chance -- 3. Rethinking the Concept of (In)Opportunity Cost & Parable of Broken Window: A Reflection of Frederic Bastiat -- 4. The Economic Effect of Human Action in Relation to Artificial Intelligence -- 5. The Question of Conjecture in Economics and Probability: On the Applicability of Probability Theory to the Randomness of Economic Events -- 6. The Anatomy of Accident as a Deviation from Random Walk -- 7. Observable and Unobservable as Opposed to 'Seen and Unseen' -- 8. Conclusions.

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Year of publication:	2024
Authors:	Hacıoğlu, Volkan
Publisher:	2024.: Cham : Springer International Publishing 2024.: Cham : Imprint: Palgrave Macmillan
Subject:	probability theory \| random events \| economic analysis of uncertainty \| applied probability theory \| random walk hypotheses \| observable and unobservable phenomena \| understanding random events through big data \| statistical methods for economics \| Wahrscheinlichkeitsrechnung \| Probability theory \| Theorie \| Theory \| Statistische Methodenlehre \| Statistical theory \| Statistische Methode \| Statistical method \| Random Walk \| Random walk