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The Global Crisis demonstrated to the world that Ratings Agencies had misled the public about the stability of … 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. …
Persistent link: https://www.econbiz.de/10011543578
Tournament incentives prevail in labor markets. Yet, the number of tournament winners is often unclear to competitors. While it is hard to measure how this uncertainty affects work performance and willingness to compete in the field, it can be studied in a controlled lab experiment. We present a...
Persistent link: https://www.econbiz.de/10012015779
. Finally we assess the role of risk, finding little evidence that risk-aversion drives a wedge between market prices and …
Persistent link: https://www.econbiz.de/10003227221
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 …
Persistent link: https://www.econbiz.de/10014390526
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...
Persistent link: https://www.econbiz.de/10011407940
We develop a theoretical model to identify and compare partial and equilibrium effects of uncertainty and the magnitude of fines on punishment and deterrence. Partial effects are effects on potential violators' and punishers' decisions when the other side's behavior is exogenously given....
Persistent link: https://www.econbiz.de/10011347317
national security as of March 2022. Fourth, firm-level risk perceptions skewed heavily to the downside in spring 2020 but …
Persistent link: https://www.econbiz.de/10013186704
Do voters place their trust in tried and tested leaders when uncertainty is high or do they prefer a new slate of leaders who are arguably more competent? To study this question, we make use of hand-collected data on 402,385 candidates who competed in open-list local council elections...
Persistent link: https://www.econbiz.de/10013347142
success in modern war. Based on a reduced form approach we consider key elements of military theory as factors in the …
Persistent link: https://www.econbiz.de/10011411277
perception of economic well-being, possibly influenced by such tactics, predicts war and peace onset. Using unique data … bracketing the onset of the Nepalese Civil War, we find that higher levels of perceived income adequacy are associated with later … war onset during periods of rebel recruitment, and with earlier peace onset in general. These results hold regardless of …
Persistent link: https://www.econbiz.de/10012120621