Micro-level studies show that both financial markets and banks can affect innovation. The effect of the two varies across different types of firms. Thus, theoretically, the aggregate impact of financial structure on innovation is ambiguous. This paper assesses the aggregate effect of financial...

People differently rank factors they see as important when making decisions with potential environmental impact. Both in a survey and theoretically, we investigate the relative importance of monetary and non-monetary factors and how and whether attitudes to uncertainty affect this ranking. Risk...

Vague, or imprecise, news may affect decisions by changing either the fundamentals, or the associated uncertainty, or both. We show response to vague news is shaped by ambiguity attitudes, yet with qualitative differences for different levels of risk, on top of ambiguity, conveyed. The decision...