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Uncertainty, Likelihoods and Investment Decisions

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  • James W. Angell

Abstract

Introduction, 1. — I. The problem of "explanation," 3. — II. Shackle's hypothesis, 4. — III. An alternative hypothesis. The "most likely" gain outcome, 7. — IV. The "most likely" loss outcome, 15. — V. Evaluating net prospective satisfactions; "gambler preference maps," 16. — VI. Holding money; alternative investments; marginal equalities, 19. — VII. Limitations, 24. — VIII. Business decisions, 25. — IX. Waves of optimism and pessimism, 27.

Suggested Citation

  • James W. Angell, 1960. "Uncertainty, Likelihoods and Investment Decisions," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 74(1), pages 1-28.
    • Handle: RePEc:oup:qjecon:v:74:y:1960:i:1:p:1-28.
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    File URL: http://hdl.handle.net/10.2307/1884131
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    Cited by:

    1. Tien Nguyen & Dung Phuong Hoang & Thang Ngoc Doan, 2022. "On the uncertainty-global bank linkage nexus: The moderation of crises, financial regulations, and institutional quality," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 46(4), pages 623-645, October.
    2. Clark-Murphy, Marilyn & Soutar, Geoffrey N., 2004. "What individual investors value: Some Australian evidence," Journal of Economic Psychology, Elsevier, vol. 25(4), pages 539-555, August.

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