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Biodiversity prospecting refers to the exploration of the commercial value of genetic and biochemical resources. In this chapter, we study a drug producing pharmaceutical firm (PF) that searches for potentially useful chemicals made by wild organisms in a conservation area. This PF is able to...
Persistent link: https://www.econbiz.de/10011256729
This paper analyses the effect of uncertainty on investment spending. We analyse twotypes of investment, i.e. aggregate … investment and investment in energy saving technologies,using subjective evaluations of expectations and uncertainty of Dutch … general investment spending. Furthermore, expectationsand uncertainty have important although different effects on investment …
Persistent link: https://www.econbiz.de/10011257051
This paper proposes that risk aversion encourages individuals to invest in balancedskill profiles, making them more … the impactsboth of risk aversion and balanced skills on the likelihood individuals chooseentrepreneurship. Data on Dutch … university graduates provides evidence which supportsthis contention. It thereby raises the possibility that even risk …
Persistent link: https://www.econbiz.de/10011255496
from other potential explanations like volatility feedback, the time-varying risk premium, and a down-market effect. …
Persistent link: https://www.econbiz.de/10011268659
and probability weighting functions in decisions under risk. Extant approaches for the elicitation of these two key … ingredients of individuals' risk attitude typically rely on a long, chained sequence of lottery choices. In contrast, preferred …
Persistent link: https://www.econbiz.de/10011255452
This paper analyses the behavior of an individual who wants to maximize his utility function, but he is not able to evaluate it. There are many ways to choose a single alternative from a given set. We show that a unique utility maximizing procedure exists. Choices induced by this optimal...
Persistent link: https://www.econbiz.de/10011255667
In criminal cases the task of the judge is to transform the uncertainty about the facts into the certainty of the …
Persistent link: https://www.econbiz.de/10011255690
reversals between frames, for which incentives have no effect. Incentives on the other hand are found to reduce risk seeking for …
Persistent link: https://www.econbiz.de/10011255710
Many empirical studies on intertemporal choice report preference reversals in the sense that a preference between a small reward to be received soon and a larger reward to be received later reverses as both rewards are equally delayed. Such preference reversals are commonly interpreted as...
Persistent link: https://www.econbiz.de/10011255711
We consider a hierarchical organization with two fully rational agents. The goal of the organization is that of selecting the best alternative out of several available, and agents are heterogenous in the accuracy with which they screen the alternatives. We show that, if internal communications...
Persistent link: https://www.econbiz.de/10011255755