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Substantive and procedural uncertainty
Authors:G Dosi  M Egidi
Institution:(1) University of Rome ldquoLa Sapienzardquo, Rome, Italy;(2) SPRU, University of Sussex, Brighton, UK;(3) University of Trento, Italy
Abstract:Different sources of uncertainty are analysed and a representation of decision-making in principle consistent with behavioural evidence is proposed. The endogenous emergence of ldquoinnovationsrdquo, in the forms of unexpected events and novel behaviours is also examined.
Keywords:Innovation  Uncertainty  Problem-solving  Rationality
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