Forms of uncertainty reduction: decision, valuation, and contest
Journal
Theory and Society
ISSN
0304-2421
ISSN-Digital
1573-7853
Type
journal article
Date Issued
2018-03-11
Author(s)
Abstract (De)
Uncertainty is an intriguing aspect of social life. Uncertainty is epistemic, future-oriented, and implies that we can neither predict nor foresee what will happen when acting. In cases in which no institutionalized certainty about future states exists, or can be generated, judgment is needed. This article presents the forms by which uncertainty is reduced as a result of judgments made about different alternatives in a process involving several actors. This type of uncertainty may exist, for example, about which artist is the best, which offer in the market is more valuable, which football team is better than all the rest, or which research proposal will get a grant. The result of different forms of uncertainty reduction is increased certainty concerning alternatives in relation to one another, such as good and bad, rank lists, scores, quality assessment, and “winner and losers.” Based on the result, uncertainty is reduced and action is facilitated. The forms are structural and comprise roles; may be legitimate in a smaller or larger domain; and may exist in all spheres of life, as exemplified in sports competitions, in labor markets, and in the ranking of universities. Three forms of uncertainty reduction based on judgment are identified in this article: (1) decision, made by an authority; (2) valuation, by means of which order arises as a result of actors ascribing values; and (3) contest, by which an order is the result of direct struggle.
Language
English
Keywords
Competition
Game
Market
Ranking
Status
Value
HSG Classification
contribution to scientific community
HSG Profile Area
SHSS - Kulturen, Institutionen, Maerkte (KIM)
Refereed
No
Publisher
Springer Netherlands
Publisher place
Netherlands
Volume
Volume 47
Number
Issue 2
Start page
133
End page
149
Pages
17
Subject(s)
Eprints ID
258516
File(s)![Thumbnail Image]()
open.access
Name
Aspers2018_Article_FormsOfUncertaintyReductionDec.pdf
Size
483.89 KB
Format
Adobe PDF
Checksum (MD5)
1b38f8f124d5c680424f0792738cdad7