reduce their risk exposure more flexible instruments, such as voluntary exchanges of water among users, are required. Recent … as mitigate the adverse economic effects of droughts. This paper looks at the risks and uncertainty dimensions of water …, the role that uncertainty plays in market participants' decisions and its impact on gains from trade. Two models have been …

individuals’ perceptions of and willingness to pay (WTP) for the implementation of a RDP in Cantabria, Spain. Uncertainty in … is made between the open-ended (OE) and the multiple bounded uncertainty (MBU) elicitation formats. According to our …

Fisher's theory is only partially relevant in explaining agent behavior under conditions of risk and uncertainty. Partiality … under conditions of risk and uncertainty. …

The paper presents a theory of policy timing that relies on uncertainty and transaction costs to explain the optimal … timing and length of policy reforms. Delaying reforms resolves some uncertainty by gaining valuable information and saves …

irreversibility and stochasticity in SFP. The results show the relevance of uncertainty in determining the timing of adoption and …

The biological nature of agricultural production processes induce a higher degree of uncertainty surrounding the … many developed countries. To examine the effects of public risk management programs on optimal nitrogen fertilizer use and …