Environmental managers face substantial uncertainty when deciding on management actions. To reduce this uncertainty … on the management cost, the assumed value of a good state and on the level of uncertainty regarding the ecological state …

circulation model. It also features Epstein-Zin utility and uncertainty about climate sensitivity that resolves after some time …

uncertainty of a combined forecast should be interpreted as that of a typical forecaster randomly drawn from the pool. With a … standard factor decomposition of a panel of forecasts, we show that the uncertainty of a typical forecaster can be expressed as … some previously used measures significantly underestimate the conceptually correct benchmark forecast uncertainty. …

In this paper, we conduct an empirical study of how uncertainty alters fertility behavior. The precautionary motive for … saving predicts that an increase in income uncertainty increases saving by reducing both consumption and fertility. We … examine this prediction using a new measure of economic uncertainty, the World Uncertainty Index and focus on data from 126 …