uncertainty and other effects that are particularly manifest in cognitive processes, which makes it well suited for the study of …

of risk, both being associated to the stresses supported by the socio-economic system. We propose instruments for … resilience build-up and management based on a novel classification of risk and resilience management regimes corresponding to the … system's degree of uncertainty/predictability and stress level within it. Four main quadrants are identified: Ad hoc …

We analyze in this chapter decision-making when costs and benefits of an action are uncertain, that is, when future … consumer's surplus is a correct measure of the net benefits from the action. It turns out that for one individual, the correct …-contingent consumer's surplus and the state-contingent marginal utility of wealth and a second term representing risk aversion. This …

market risk levels are too great. Hazard warnings policies often can address informational failures. Some market failures may … be exacerbated by government policies, particularly those embodying conservative risk assessment practices. Labor market … estimates of the value of statistical life provide a useful reference point for the efficient risk tradeoffs for government …

between risk and uncertainty is implemented by applying the multiple priors framework to beliefs about the probability of …, ultimate lenders and financial intermediaries. The model is used to investigate the impact of uncertainty about the likelihood …

probabilities. In contrast to alternatives whose probabilities are known, these uncertain alternatives offer the benefits of …

Few papers in the literature on inequality measurement deal with uncertainty, particularly when the ranking of cohorts … may not be fixed. We present a set of axioms implying such a class of inequality measures under uncertainty that is a one …

risk exchange founded on the subjective interpretation of probability, which predicts that all individual uncertainties … contributions to decision theory that take seriously the idea of Knightian uncertainty, to show why social insurance may be …

volatile creating substantial financial risk for fishermen. The US Pacific Groundfish fishery recently introduced an ITQ system … with low quotas for several overfished species with highly uncertain bycatch rates. Some fishery participants formed risk … pools where bycatch quota is pooled and available to all pool members. Risk pools can reduce financial risk and transactions …

between risk and uncertainty is implemented by applying the Gilboa-Schmeidler maxmin with multiple priors framework to lenders …, ultimate lenders and financial intermediaries. The model is used to investigate the impact of uncertainty about the likelihood … include: (i) An unanticipated increase in bailout uncertainty raises interest rates, the volume of defaults in both the real …