Une économique de l’incertain

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Abstract
The author argues that classical theories of equilibrium and of the optimum can be extended without change of form to embrace situations in which consumption, production and resource-allocation are conditioned by uncertainty. These theories define a transaction in terms of the physical properties of the good or service concerned and the (specified) dale and place of delivery of that good from buyer to seller. If this definition is extended to include an exogenous event (whose occurrence or non-occurrence will become known by the delivery dale), the article demonstrates that the analysis can be extended to incorporate conditions of uncertainty.

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