Titlebook: G.L.S. Shackle; Peter E. Earl,Bruce Littleboy Book 2014 Palgrave Macmillan, a division of Macmillan Publishers Limited 2014 Investment dec

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Potential Surprise and Choice,early in 1949 and boldly rejected both the use of probabilities as decision weights and the idea that decisions about uncertain prospects are made by aggregating scores for mutually exclusive potential outcomes. In those days, the academic publication process seems, if anything, to have been faster

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,Critical Perspectives on Shackle’s Theory, a ‘quite devastating critique’ of orthodox thinking. In addition to standard book reviews, it was accorded lengthy review articles by Carter (1950) and Mars (1950; 1951) and was given a major place in a key survey article by Arrow (1951). It can be seen now a precursor to state-of-the-art non-Bayes

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Lessons for Economists, Entrepreneurs and Business Schools,ents and business schools, and for decision-makers in businesses and the public sector. Our focus, like that of Shackle himself, is mostly on methodological issues rather than on policy pronouncements. As we have shown, Shackle was reluctant to get involved in debates about public policy even though

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