Showing 1 - 10 of 174
uncertainty. Morespecifically, it points out the trials of the 'new macroeconomics' principles of monetary policywhen they are …
Persistent link: https://www.econbiz.de/10008789344
assets with short-selling where there is risk and ambiguity. Agents have Bewley's incomplete preferences. As an inertia … risk adjusted sets of probabilities intersect. The more risk averse, the more ambiguity averse the agents, the more likely …
Persistent link: https://www.econbiz.de/10011025685
some prior. It is shown that the more uncertainty averse and the more risk averse, the more likely are efficient …The theory of existence of equilibrium with short-selling is reconsidered under risk and ambiguity modelled by risk … 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
some prior. It is shown that the more uncertainty averse and the more risk averse the agents, the more likely are efficient …The theory of existence of equilibrium with short-selling is reconsidered under risk and ambiguity modelled by risk … 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/10010603664
uncertainties over forecasting hypotheses. A mean to control such uncertainties lies in the introduction of risk in the Costs … under uncertainty mainly developed after Dixit and Pindyck (1994). The second one is more empirical and uses Monte Carlo … possibility of changes in transport policy. This uncertainty should be controlled. It is the role of strategic modeling. …
Persistent link: https://www.econbiz.de/10008792030
disaster risk. We first build an analytical model that demonstrates how countries that face a low hazard of disasters are … increasing economic development. We then use a cross country panel dataset in conjunction with a risk exposure index to …
Persistent link: https://www.econbiz.de/10008793946
Certain areas related to the topics under discussion here lie outside my field; for instance the evaluation of risk … powers to analyse the risk decision-making process over some years now. …
Persistent link: https://www.econbiz.de/10008794056
The economic principle of (hidden) uncertainty is presented. New probability formulas are offered. Examples of …
Persistent link: https://www.econbiz.de/10008794343
This paper discusses aspects of risk and uncertainty relevant in an interdisciplinary assessment of climate change … aspects the IPCC guidance notes provides an interdisciplinary unified approach on risk and uncertainty. This is a significant … probabilities are well founded versus situations of broader forms of error such as Knightian or deep uncertainty, incompleteness …
Persistent link: https://www.econbiz.de/10008794391