We propose a model of decision making that captures reluctance to bet when the decision maker (DM) perceives that she lacks adequate in- formation or expertise about the underlying contingencies.

This paper investigates price transmissions across European energy forward markets at distinct maturities during both normal times and extreme ?uctuation periods. To this end, we rely on the traditional Granger causality test (in mean) and its multivariate extension in tail distribution...

In this paper we study the behaviour of decision makers who show, quoting Irving Fisher, preferences for advancing the timing of future satisfaction. We gave two definitions that could represent this kind of attitude and we studied their implications in three popular models used in decision...

The relationship between financial development and economic growth is not conclusive in existing economics literature. The aim of this paper is to test two hypotheses: ‘supply-leading’ hypothesis and ‘demand-following’ hypothesis, using Laos time series data. The ARDL bounds testing...

This paper investigates the causal relationship between asset prices and per capita output across 50 US states and the District of Columbia over 1975 to 2012. A bootstrap panel Granger causality approach is applied on a trivariate VAR comprising of real house prices, real stock prices and real...