“What Do We Know For Certain About Uncertainty?”
Dr. Peter Lewin, JSOM clinical professor of finance and managerial economics, delivered a keynote address at the inaugural Charles Street Symposium in London in June. The symposium focused on “Rethinking Uncertainty in Economics and the Real World.”
The symposium was organized by the Legatum Institute, an independent, nonpartisan think tank spun off the Legatum Group, a private global investment company.
Robert Hahn, the Legatum Institute’s director of economic studies, noted in welcoming remarks that “uncertainty and risk are pervasive in economic life.” But, he said, “recent financial crises show that regulators, market participants and the economics profession often have a very imperfect understanding of how risk and uncertainty should be managed and priced.”
In this videotaped conversation, Dr. Lewin discusses how expectations, values and subjectivity factor into our views of economic risk and uncertainty.