IDEAS home Printed from https://ideas.repec.org/a/pal/gpprii/v46y2021i2d10.1057_s41288-021-00214-w.html
   My bibliography  Save this article

Fingerspitzengefühl

Author

Listed:
  • Eric Briys

Abstract

Orio Giarini spent a life working on insurance, growth, wealth and technology. His work was deeply influenced by a famous Austrian novel, namely The Man without Qualities authored by Robert Musil. In this novel, a so-called Secretariat of Soul and Precision plays an important role. Musil's Secretariat turns out to be a remarkable prism through which Orio Giarini's many contributions can be deciphered. In the following text, I submit the hypothesis, among other ideas, that Orio Giarini had a very early intuition on two important and related notions, namely ergodicity and path dependence, whose consequences are still not fully understood in economics. Ergodicity and path dependence are indeed critical when one aims at bringing more precision to soul and more soul to precision.

Suggested Citation

  • Eric Briys, 2021. "Fingerspitzengefühl," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 46(2), pages 248-265, April.
    • Handle: RePEc:pal:gpprii:v:46:y:2021:i:2:d:10.1057_s41288-021-00214-w
    DOI: 10.1057/s41288-021-00214-w
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/s41288-021-00214-w
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1057/s41288-021-00214-w?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Cowan, Robin, 1991. "Tortoises and Hares: Choice among Technologies of Unknown Merit," Economic Journal, Royal Economic Society, vol. 101(407), pages 801-814, July.
    2. Ole Peters & Murray Gell-Mann, 2014. "Evaluating gambles using dynamics," Papers 1405.0585, arXiv.org, revised Jun 2015.
    3. J. François Outreville, 2013. "The Relationship Between Insurance and Economic Development: 85 Empirical Papers for a Review of the Literature," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 16(1), pages 71-122, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jos'e Cl'audio do Nascimento, 2019. "Behavioral Biases and Nonadditive Dynamics in Risk Taking: An Experimental Investigation," Papers 1908.01709, arXiv.org, revised Apr 2023.
    2. Relwendé Sawadogo, 2021. "The relationship between insurance and banking sectors in Sub-Saharan African: Does globalization matter?," Economic Change and Restructuring, Springer, vol. 54(1), pages 101-119, February.
    3. John Kemp & Ted Wilson, 1999. "Monetary Regime Transformation: The scramble to gold in the late nineteenth century," Review of Political Economy, Taylor & Francis Journals, vol. 11(2), pages 125-149.
    4. Imho Kang & Jeong-yoo Kim, 2005. "Standardization in electronic money," International Economic Journal, Taylor & Francis Journals, vol. 19(3), pages 447-459.
    5. Robin Cowan & William Cowan & G.M. Peter Swann, 2004. "Waves in consumption with interdependence among consumers," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 37(1), pages 149-177, February.
    6. Wookjae Heo & Eun Jin Kwak & John Grable & Hye Jun Park, 2024. "Ownership of Cash Value Life Insurance among Rural Households: Utilization of Machine Learning Algorithms to Find Predictors," Mathematics, MDPI, vol. 12(16), pages 1-27, August.
    7. Alexandre Steyer & Jean-Benoît Zimmermann, 1998. "Étude empirique de l'influence sociale dans les phénomènes de diffusion : l'exemple du câble et du fax en France," Économie et Prévision, Programme National Persée, vol. 135(4), pages 109-119.
    8. Focarelli, Dario, 2017. "Why Insurance Regulation is Crucial for Long-term Investment and Economic Growth," LEAP Working Papers 2017/1, Luiss Institute for European Analysis and Policy.
    9. Wanat, Stanisław & Papież, Monika & Śmiech, Sławomir, 2016. "Insurance Market Development and Economic Growth in Transition Countries: Some new evidence based on bootstrap panel Granger causality test," MPRA Paper 69051, University Library of Munich, Germany.
    10. Asanov, Igor, 2021. "Bandit cascade: A test of observational learning in the bandit problem," Journal of Economic Behavior & Organization, Elsevier, vol. 189(C), pages 150-171.
    11. Harison, Elad & Koski, Heli, 2006. "Innovative Software Business Strategies: Evidence from Finnish Firms," Discussion Papers 1042, The Research Institute of the Finnish Economy.
    12. Yana Petrova, 2020. "On cointegration between the insurance market and economic activity," Empirical Economics, Springer, vol. 59(3), pages 1127-1138, September.
    13. J. François Outreville, 2021. "Insurance and foreign direct investment: a review (or lack) of evidence," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 46(2), pages 236-247, April.
    14. Rajat Deb & Kanchan Kumar Nath & Mukesh Nepal & Sourav Chakraborty & Kiran Sankar Chakraborty, 2021. "Do People Choose Life Insurance for Protection or for Saving?," Metamorphosis: A Journal of Management Research, , vol. 20(1), pages 35-44, June.
    15. Evgenia Prokopjeva, 2015. "Life Insurance In Russia: Features Of Regional Development," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(1), pages 223-233.
    16. Mundt, Philipp & Alfarano, Simone & Milaković, Mishael, 2020. "Exploiting ergodicity in forecasts of corporate profitability," Journal of Economic Dynamics and Control, Elsevier, vol. 111(C).
    17. Hu, Jing & Harmsen, Robert & Crijns-Graus, Wina & Worrell, Ernst, 2019. "Geographical optimization of variable renewable energy capacity in China using modern portfolio theory," Applied Energy, Elsevier, vol. 253(C), pages 1-1.
    18. Andrea Marchini & Chiara Riganelli & Francesco Diotallevi & Bianca Polenzani, 2021. "Label information and consumer behaviour: evidence on drinking milk sector," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 9(1), pages 1-24, December.
    19. J. François Outreville, 2015. "The Relationship Between Relative Risk Aversion And The Level Of Education: A Survey And Implications For The Demand For Life Insurance," Journal of Economic Surveys, Wiley Blackwell, vol. 29(1), pages 97-111, February.
    20. Dalila BENZIANE & Qasim SHAH, 2019. "Insurance consumption in the Maghreb countries (Algeria, Morocco and Tunisia): Financial and institutional determinants," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(3(620), A), pages 193-204, Autumn.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:gpprii:v:46:y:2021:i:2:d:10.1057_s41288-021-00214-w. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave-journals.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.