Showing 1 - 10 of 122
The final step in the proof of Proposition 1 (p.311) of Mukerji and Tallon (2003) may not hold in generalbecause $\varepsilon0$ in the proof cannot be chosen independently of $w,z$. We point out by a counterexample that the axioms they impose are too weak for Proposition 1. We introduce a...
Persistent link: https://www.econbiz.de/10010750607
This chapiter of a collective book is dedicated to classical decision models under uncertainty, i.e. under situations …
Persistent link: https://www.econbiz.de/10010738544
We review recent advances in the field of decision making under uncertainty or ambiguity. …
Persistent link: https://www.econbiz.de/10010738626
roll over their loans or not. We use a non-Bayesian approach where creditors exhibit some aversion to ambiguity. We show … that an increase in ambiguity reduces the perceived coordination of players in rolling over their loans. This contibutes to …
Persistent link: https://www.econbiz.de/10010739015
This paper was prepared for the First Journées d'Economie et Econométrie de l'Asssurance, in Rennes, October 22nd and 23rd, 2009. It's a melting pot of several papers that I have written with my co-authors, plus a very short summary of Graciella Chichilnisky enlightening results. But, before...
Persistent link: https://www.econbiz.de/10010618146
towards strategic uncertainty and competition. Seniors exhibit higher entry rates compared to juniors, especially when the … controlling for attitudes towards non-strategic uncertainty and for beliefs on others' competitiveness and on relative ability …
Persistent link: https://www.econbiz.de/10010899002
We study the attitudes of junior and senior employees towards strategic uncertainty and competition, by means of a …-strategic uncertainty and for beliefs on others' competitiveness and ability. Social image matters, as evidenced by the fact that seniors … stereotype of risk averse and less competitive older employees. …
Persistent link: https://www.econbiz.de/10010821398
reduce future generations risks in terms of discounting. Applied to the question of conservation of a renewable resource, we …
Persistent link: https://www.econbiz.de/10010750368
The theory of existence of equilibrium with short-selling is reconsidered under risk and ambiguity modelled by risk … some prior. It is shown that the more uncertainty averse and the more risk averse, the more likely are efficient … of the risk adjusted sets of expectations overlap. This condition is necessary if agents are not risk neutral at extreme …
Persistent link: https://www.econbiz.de/10010738543
, which allow to take into account observed behaviors as in Allais' paradox under risk or Ellsberg's paradox under uncertainty … uncertainty, and Quiggin and Yaari under risk, succeeded to characterize preferences which generalize the EU model, by means of a … for more diversified patterns of behavior under uncertainty as well under risk. …
Persistent link: https://www.econbiz.de/10010738555