Abstract
In order to take a decision in an uncertainty context, it is necessary, from a theoretical point of view, to build a model and specify all the consequences in every possible state of the world. In applied work this method is much too involved.
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Freixas, X. (2018). Certainty Equivalence. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_369
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DOI: https://doi.org/10.1057/978-1-349-95189-5_369
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