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Wednesday, March 19, 2014

Uncertainty Traps

In Knowledge@Wharton:  Had not heard the term before, but knowing what you don't know is always  a useful thing.  And leads to statements like:  "If we had this data ... THEN ... we could calculate predict, refine this result."   So then you can accumulate or buy the data you need at the right level of detail.   Here applied to the operation of economies. " ... The chief culprit: the “uncertainty trap,” a kind of information void that paralyzes economic players even after economic fundamentals improve. .... " 

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