NEED TO RECONSIDER OUR ACTIONS/DECISIONS WITH RISK AND TROUBLES, SO 'TRUSTING' IS GOING TO HAVE AN IMPORTANT ROLE AS … AND WE WONT TO AVOID THE RISK OF BEING DECEIVED. THESE SOCIAL INTERACTIONS ARE PRECONDITIONS THAT HAVE MANY CONSEQUENCES …

This paper develops a utility model for evaluating lotteries. In estimating utility, risk averse people use an … researchers to directly specify their attitudes toward risk. …

This paper develops a utility model for evaluating lotteries. In estimating utility, risk averse people use an … model allows researchers to directly specify their attitudes toward risk. The model is advantageous for two reasons. First …

We propose a model of portfolio selection under ambiguity, based on a two-stage valuation procedure which disentangles … ambiguity and ambiguity aversion. The model does not imply 'extreme pessimism' from the part of the investor, as multiple priors … uncertainty about means and variances of returns. …

decrease, known as hyperbolic discounting, is consistent with what is observed in psychology studies, while the limiting case …, exponential discounting, is consistent with market level observations. This model closes the gap between individual and market … level observations of discounting behavior without explicitly assuming the two kinds of discounting nor relying on …

at least 25% greater than it is in the case when discounting is neglected. Moreover when accouting for risk aversion ….S. pension scheme, that discounting plays a crucial role, since the formula for the present discounted value of future retirement … towards lifetime uncertainty, the optimal delayed retirement credit is increased by 15- 25%. Our results indicate that the U …

issues of time and uncertainty in economics. The source of the difference between their economic ideas was the difference …

Uncertainty represented by volatilities in equity markets has been observed to be time-variable and lead output … fluctuations. In the rational expectation framework, uncertainty with this nature needs exogenous variables with time … that supervisions and law enforcement that reduce cheatings in contracts is one of the ultimate sources of uncertainty. The …

. Uniting Schumpeter's concern for innovation with Keynes' concern for uncertainty and expectations formation, this article … focuses on the behaviour of entrepreneurs confronting uncertainty caused by innovation. Entrepreneurs' behaviour is …