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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. …
Persistent link: https://www.econbiz.de/10011349194
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. …
Persistent link: https://www.econbiz.de/10010532588
. Information provision is preferable when uncertainty is high, as information is more valuable at this time. …
Persistent link: https://www.econbiz.de/10012816981
Dams are essential for water storage and hydropower generation, but change river flow patterns and endanger local environments. Dam projects may further exacerbate already existing problems in trans-boundary rivers. We consider three scenarios of institutional factors: (1) each country pursues...
Persistent link: https://www.econbiz.de/10011556226
We consider a dynamic (differential) game with three players competing against each other. Each period each player can allocate his resources so as to direct his competition towards particular rivals -- we call such competition selective. The setting can be applied to a wide variety of cases:...
Persistent link: https://www.econbiz.de/10011378872
Many economic problems can be formulated as dynamic games in which strategically interacting agents choose actions that determine the current and future levels of a single capital stock. We study necessary conditions that allow us to characterize Markov perfect Nash equilibria (MPNE) for these...
Persistent link: https://www.econbiz.de/10011349198
. We find that price sensitivity and its interplay with uncertainty have important implications for the effects of tolling … uncertainty, but it lowers welfare with uncertain capacity. Next, "third-best" tolling adds the further constraint that, besides a …-best one-raise the price compared to the no-toll case. In our numerical study, when there is less uncertainty, the second …
Persistent link: https://www.econbiz.de/10014472536
Travelers often are incompletely informed about travel alternatives, which has important implications for various domains of travel behavior such as whether or not to make a trip, modal choice, the timing of a trip or route choice. During the last decade large efforts have been made to increase...
Persistent link: https://www.econbiz.de/10011382086
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 …
Persistent link: https://www.econbiz.de/10011333900
use an analytical framework in which wage differentials result from two types of uncertainty. Quantity uncertainty … originates from imperfect foresight in future product demand. I argue that workers who take over part of the quantity uncertainty … from the employer get higher payments. Quality uncertainty on the other hand originates from the fact that employers are ex …
Persistent link: https://www.econbiz.de/10011348354