Discussion Paper of the Institute for Organisational Economics 5/2022
Der Zufall in den Wirtschaftswissenschaften
Chance in Economics
Chance plays a major role in economics, whereby subjective probabilities are usually used, i.e. the limited knowledge of economic actors. Objective coincidence in nature is rarely modelled, but it does occur. Exemplary, the role of chance in decision theory, game theory, capital market theory and econometrics is considered.