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Probabilistic risk beliefs are key drivers of economic and health decisions, but people are not always certain about … measurable separately from the levels of risk beliefs. People with higher levels of imprecision update their beliefs more in …
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although risk can be measured, uncertainty cannot be measured. Even though risk can be measured, a simple symmetric measure … attempt at "measuring" risk or (fundamental) uncertainty is flawed. …
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hypotheses derived from the theory. …
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For two different regulatory standards, we examine the optimal minimum wage in a competitive labour market when the government is uncertain about supply and demand. Solutions are related to underlying supply and demand conditions, and the extent of uncertainty and of rationing efficiency. We...
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