Individuals and business owners engage in an increasingly complex array of financial decisions that are critical for their success and well-being. Yet a growing literature documents that in both developed and developing countries, a large fraction of the population is unprepared to make these...

This paper provides a comprehensive description of the financial environment for households and small businesses in a defined geographical region. It develops a new, functional approach to financial access surveys, which involves asking detailed questions about how respondents meet their...

In a one-state one-control variable Quadratic Linear Problem, I examine the effect of an increase in the multiplicative uncertainty on the use of the control variable. In contrast with previous studies, this model considers a stochastic constant term in the transition equation. I found that the...

In this essay, it is shown that in the Hoel and Karp (2001) model of global warming, the optimal response of taxes for a stock pollutant with mutiplicative uncertainty is opposite when the control variable is pollution taxes instead of emissions. In this case, the election of control variable...

In this paper an analytical framework using robust control was developed for the one-state and one-control variable model to examine the response of the control to changes in the "free" parameter. However, in contrast to Gonzalez and Rodriguez (2003), the sign of the ``free" parameter in the...