We looked at risk and ambiguity attitudes among Ethiopian peasants in one of the poorest regions of the world and compared their attitudes to a standard Western university student sample elicited by the same decision task. Strong risk aversion and ambiguity aversion were found with the Ethiopian...

In recent years after the beginning of the transition process, firms in Central and Eastern European countries have been trying hard to find access to international markets and production chains. Rapidly changing institutional, technological and demand conditions together with decades of...