Showing 1 - 10 of 27
issues of time and uncertainty in economics. The source of the difference between their economic ideas was the difference …
Persistent link: https://www.econbiz.de/10005076652
This paper presents a more realistic endogenous time preference model, incorporating the property that impatience decreases as consumption increases. The model overcomes a serious drawback of the existing model, which needs the assumption of increasing impatience. The new model is applied to the...
Persistent link: https://www.econbiz.de/10005076835
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 …
Persistent link: https://www.econbiz.de/10005077043
. 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 …
Persistent link: https://www.econbiz.de/10005077089
This paper re-examines the effects of inflation and exchange rate uncertainty on real economic activity. The existent … literature has treated both issues as separate subject matters. It has emphasized either the issue of inflation uncertainty or … exchange rate uncertainty on economic growth or on different measures of economic activity. This paper attempts dealing with …
Persistent link: https://www.econbiz.de/10005125542
We give the reader a tour of good energy optimization models that explicitly deal with uncertainty. The uncertainty …
Persistent link: https://www.econbiz.de/10005125661
The consequences of many policies are complicated and difficult to foresee. Those who are capable of providing information to policy makers often have a vested interest in the outcomes. This gives them an incentive to distort information to manipulate policy decisions. In this article we argue...
Persistent link: https://www.econbiz.de/10005125873
THE DEVELOPMENT SOCIAL RELATIONSHIP IN OUR TIMES IMPOSE A GROWING IMPORTANCE TO 'TRUST' AS A RESOURCE BETWEEN PERSONAL RELATIONSHIP AS BETWEEN PERSONS AND COMPLEX SOCIAL SYSTEM. THE MAIN FEATURE OF MODERNITY IN SOCIAL CONNECTIONS IS GIVEN BY THE SPREAD OF A 'TIME/SPACE' DISTANCE. THE INCREASING...
Persistent link: https://www.econbiz.de/10005126102
uncertainty about the number of surviving children. If the marginal utility of a surviving child is convex then there will be a … precautionary demand for children. As the mortality rate and thus uncertainty falls, this demand decreases. Furthermore, lower … o is realized only if uncertainty is incorporated into individual’s optimization problem. …
Persistent link: https://www.econbiz.de/10005126196
construct a model in which individuals make labor/leisure choices over their lifetimes subject to uncertainty about their date … changes in the US life table over the last century, and show that this “uncertainty e ect” of declining mortality would have …
Persistent link: https://www.econbiz.de/10005126354