The experience of monetary policy making in an uncertain environment has encouraged increased attention to the concept of model uncertainty, that is, uncertainty as to which is the best model. A particular difficulty has been the need to operationalise the concept in order to yield definitive...

The purpose of the paper is to explore the potential for applying fuzzy logic to economic decision-making under Keynesian uncertainty, and in particular to circumstances where variety of opinion is important. Fuzzy logic is shown to apply where expectations may differ because the nature of the...

An occasion such as this first ICAPE conference reflects an increasing coherence, and openness to communication, among the different strands of economics. The purpose of this paper is to address the questions this raises as to whether or not there is still a useful role for the concept of...