their risk aversion parameter invest less in risky assets than wealthy investors with identical risk aversion uncertainty. …

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 …

, labor adjustment costs (hiring and firing costs) are linear. The model allows for uncertainty in the business cycle. <P …