William Stanley Jevons' Erroneous Comparison of Adam Smith and Robert Cantillon - Overlooking the Risk versus Uncertainty Divide.

13 Pages Posted: 8 Aug 2015

See all articles by Michael Emmett Brady

Michael Emmett Brady

California State University, Dominguez Hills

Date Written: August 7, 2015

Abstract

William Stanley Jevons’ misevaluated Adam Smith’s contributions in the Wealth of Nations in 1881 by overlooking the originality of Smith’s unique contributions to decision theory, his definition of uncertainty, and his application of the uncertainty versus risk distinction in Smith’s analysis of occupational choice in chapter 10 of Part I of the Wealth of Nations.

Keywords: uncertainty, interval valued probability, occupational choice, Cantillon, Smith

JEL Classification: B10, B12, B14, B20

Suggested Citation

Brady, Michael Emmett, William Stanley Jevons' Erroneous Comparison of Adam Smith and Robert Cantillon - Overlooking the Risk versus Uncertainty Divide. (August 7, 2015). Available at SSRN: https://ssrn.com/abstract=2641213 or http://dx.doi.org/10.2139/ssrn.2641213

Michael Emmett Brady (Contact Author)

California State University, Dominguez Hills ( email )

1000 E. Victoria Street, Carson, CA
Carson, CA 90747
United States

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