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. … surge in the stock market would be self-correcting. Recent papers have discussed the role of "uncertainty" and its …

of uncertainty and of rationing efficiency. We show that regulatory uncertainty does not diminish the rationale for … intervention, but may require a low minimum wage that may not bind. With expected earnings-maximization, greater uncertainty widens …

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 …

We develop a theoretical model to identify and compare partial and equilibrium effects of uncertainty and the magnitude …. This interdependency is important since, in the case of legal uncertainty, higher fines may reduce the willingness to … hypotheses derived from the theory. …

This paper investigates the role that idiosyncratic uncertainty plays in shaping social preferences over the degree of …

increases in risk taking. Where we can separately identify changes in risk-independent performance and risk taking, our … increases in risk taking. These effects are concentrated among those closest to the margin of elimination and among lower …

households reduce their financial risk exposure when confronted with background risk. Our novel modelling approach - termed a … risk, and is unique in recovering for, any given risky asset class, the shares that are reallocated to a safer asset … category. Background risk exerts a significant impact on household portfolios, resulting in a 'flight from risk', away from …

take risk as measured by the general risk question. We demonstrate that this disposition, which we call risk conception, is … strongly associated with optimism, a stable facet of personality and that it predicts real-life risk taking. The general risk … question captures this disposition alongside pure risk preference. This enlightens why the general risk question is a better …

Optimal layoff rules in closed form are derived for all workers in a firm that downsizes under uncertainty and faces … aircraft building company that went bankrupt in 1996 shows that workers with high uncertainty associated with higher than …

uncertainty, where the probabilities of outcomes are not known but perceived, resulting in ambiguous probabilities. In this … react to uncertainty from Frank Knight (1921) to the present day. Recognizing that entrepreneurs face uncertainty rather … than risk and are unlikely to have estimates of all probabilities for all potential outcomes, it becomes difficult to …