This paper focuses on Keynes's understanding of individual decision-making under uncertainty and tries to address a question left mostly unexplained in the critical literature. On re-reading Keynes after the recent surge of interest induced by the financial crisis, a number of scholars have...

The recent financial crisis has renewed the interest in Keynes's thought and his analysis of the role played by individual agents in financial markets. George Akerlof and Robert Shiller, in particular, have drawn on the growing interest in behavioral interpretations of financial markets to hold...