We investigate within a continuous time setting how Knightian uncertainty characterized by k-ignorance affects the … optimal timing policies of a risk-neutral and uncertainty averse investor in the case where the exercise payoff is monotonic …. We prove that increased Knightian uncertainty unambiguously decreases the value of the optimal timing policy of an …

many core economies. Focusing on the four largest euro-area countries, this paper investigates the role of uncertainty for … investment dynamics. By doing so, we compare five prominent uncertainty proxies put forward in the recent literature: the … uncertainty, and two indicators taking up the concept of (econometric) unpredictability. Although all uncertainty measures show …

landscape. Uncertainty and perceptions are influential drivers when it comes to migration decisions, and yet, the literature … simultaneously associated with uncertainty perceptions. We leverage the British referendum of 2016 to leave the European Union as a … unique natural experiment to demonstrate how collective uncertainty, induced by national government policy, affects the …

We consider optimal incremental capital accumulation in the presence of investment irreversibility and general price … uncertainty. We present a set of general conditions under which the optimal capital accumulation path can be explicitly …