risk preferences. Here, we develop an analogous tool for choice under uncertainty - the ambiguity triangle - and show that … characterize this heterogeneity with finite-mixture estimates of a one-parameter extension of Expected Utility Theory wherein 48 …

In prosocial decisions, decision-makers face interpersonal uncertainty - uncertainty about how their choices impact … remove social consequences but retain uncertainty, revealing strikingly similar patterns across both. Second, we exogenously … vary interpersonal uncertainty to estimate the aversion to interpersonal uncertainty and quantify how it combines with …

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 …

for firms. We rationalize these findings in a model of risk sharing between a risk-averse firm and workers with limited …

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 …

Using a new survey of firms in New Zealand, we document how exogenous variation in the macroeconomic uncertainty … macroeconomic uncertainty of some firms. The effects on their decisions relative to their initial plans as well as relative to an … technologies or open new facilities. These ex-post effects of uncertainty are similar to how firms say they would respond to higher …

Do voters place their trust in tried and tested leaders when uncertainty is high or do they prefer a new slate of … pandemic, a time of high uncertainty about the future course of events. Using local heterogeneity in Covid-19 outbreaks and … related school/daycare closures to proxy the degree of perceived uncertainty across Bavarian municipalities, we show with a …

We examine several measures of uncertainty to make five points. First, equity market traders and executives at … nonfinancial firms have shared similar assessments about one-year-ahead uncertainty since the pandemic struck. Both the one …-year VIX and our survey-based measure of firm-level uncertainty at a one-year forecast horizon doubled at the onset of the …

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 …