This paper reviews the classics of financial economics with the benefit of insight offered by the recent financial crisis. The failure of mainstream financial models to explain the observed behavior of markets is put in relation with Itzhak Gilboa's critique of the decisional model used for...

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...