John Kay, Mervyn King Books
John Kay is a British economist and Fellow of St John's College, Oxford, known for his work on economics and business strategy. Mervyn King is a British economist who served as Governor of the Bank of England from 2003 to 2013.
Known for: Radical Uncertainty: Decision-Making Beyond the Numbers
Books by John Kay, Mervyn King
Radical Uncertainty: Decision-Making Beyond the Numbers
This book explores how individuals and organizations can make decisions in a world characterized by radical uncertainty—where probabilities cannot be calculated and models fail to predict outcomes. The authors argue for a more narrative and judgment-based approach to decision-making, challenging the dominance of quantitative models in economics and business.
Read SummaryKey Insights from John Kay, Mervyn King
Understanding Radical Uncertainty
We begin with the central distinction that underpins the entire argument: the difference between measurable risk and radical uncertainty. Risk describes situations in which we can assign probabilities to outcomes—the classic coin toss, insurance calculation, or roulette table. The domain of risk is ...
From Radical Uncertainty: Decision-Making Beyond the Numbers
The Rise and Fall of Quantification in Economics
Kay and King next walk us through the intellectual history of how economics became obsessed with quantification. They describe the journey from the early 20th century when Keynes and Knight still spoke of 'unknowable uncertainty,' to the mid-century formalism of expected utility theory, rational exp...
From Radical Uncertainty: Decision-Making Beyond the Numbers
About John Kay, Mervyn King
John Kay is a British economist and Fellow of St John's College, Oxford, known for his work on economics and business strategy. Mervyn King is a British economist who served as Governor of the Bank of England from 2003 to 2013.
Frequently Asked Questions
John Kay is a British economist and Fellow of St John's College, Oxford, known for his work on economics and business strategy. Mervyn King is a British economist who served as Governor of the Bank of England from 2003 to 2013.
Read John Kay, Mervyn King's books in 15 minutes
Get AI-powered summaries with key insights from 1 book by John Kay, Mervyn King.