of uncertainty on travel times and the implications this has forestimations of travel time values has received much less … attention in the literature. In thispaper we compare various modelling approaches to address uncertainty and demonstrate … thatignoring uncertainty issues may easily lead to distorted estimates of values of travel time. Thisis of special relevance in …

In this paper we perform a meta-analysis on empirical estimates of the impact between investment and uncertainty. Since … can explain to a large extent why empirical estimates of the investment-uncertainty relationship differ. …

We study the optimal taxation of risk-free and excess capital income with heterogeneous rates of return, alongside an … optimal nonlinear earnings tax. Households can hold three assets: one risk-free, one risky but diversifiable, and one a … private investment with idiosyncratic risk whose expected return differs among households. Contrary to expectations, the …

This paper distinguishes uncertainty types that differ continuously with respect to the degree to which uncertainty … uncertainty types can lead to quite special results. Monopoly examples of the newsboy problem type are further used to show that … depends crucially on the type of uncertainty and the employed functional forms for utilities and costs. …

We develop a novel argument why better public information can help countries to insure against idiosyncratic risk … and engage in risk-sharing contracts with limited enforceability. Better public information has two opposite effects …. First, it has a detrimental effect on risk sharing by limiting risk-sharing possibilities as emphasized by Hirshleifer (1971 …

above the expected growth rate of the economy and when thegovernment has a lifetime perspective of the risk exposure. The …