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Adapting to climate change : an analysis under uncertainty
García-León, David - 2016
composition of the optimal mix as both persuade the risk-averse social planner to invest more in mitigation. Overall, we identify …
Persistent link: https://www.econbiz.de/10011451547
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Finding common ground when experts disagree : belief dominance over portfolios of alternatives
Baker, Erin; Bosetti, Valentina; Salo, Ahti A. - 2016
We address the problem of choosing a portfolio of policies under "deep uncertainty." We introduce the idea of belief dominance as a way to derive a set of non-dominated portfolios and robust individual alternatives. Our approach departs from the tradition of providing a single recommended...
Persistent link: https://www.econbiz.de/10011504367
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An Approximate Dual-Self Model and Paradoxes of Choice under Risk
Fudenberg, Drew; Levine, David K.; Maniadis, Zacharias - 2012
Persistent link: https://www.econbiz.de/10009615723
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Market allocations under ambiguity : a survey
Billot, Antoine; Mukerji, Sujoy; Tallon, Jean-Marc - 2019
We review some of the (theoretical) economic implications of David Schmeidler's models of decision under uncertainty (Choquet expected utility and maxmin expected utility) in competitive market settings. We start with the portfolio inertia result of Dow and Werlang (1992), show how it does or...
Persistent link: https://www.econbiz.de/10012121980
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Market allocations under ambiguity : a survey
Billot, Antoine; Tallon, Jean-Marc; Mukerji, Sujoy - 2019
Persistent link: https://www.econbiz.de/10012233248
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Consumption and precautionary saving : an empirical analysis under both financial and environmental risks
Baiardi, Donatella; Manera, Matteo; Menegatti, Mario - 2011
: financial risk and environmental risk. The analysis is carried out using time series data for six advanced economies in the … period 1965-2007. The results support the theoretical conclusions that both financial risk alone and the interaction between … empirical analysis performed with one-argument utility functions. Finally, we provide new estimates of indexes of relative risk …
Persistent link: https://www.econbiz.de/10009235901
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Retirement eggs and retirement baskets
Dobrescu, Loretti Isabella; Shanker, Akshay; Bateman, Hazel - 2022
Persistent link: https://www.econbiz.de/10013503820
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Uncertainty and natural resources : prudence facing doomsday
Emmerling, Johannes - 2015
in the spirit of the literature on precautionary savings. We find that boundedness of the utility function, in particular … risk aversion is sufficient. These results highlight the importance of the specification of the utility function and its …
Persistent link: https://www.econbiz.de/10010528821
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Ever since Allais
Dembo, Aluma; Kariv, Shachar; Polisson, Matthew; Quah, … - 2021
The Allais critique of expected utility theory (EUT) has led to the development of theories of choice under risk that …
Persistent link: https://www.econbiz.de/10012583551
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Revealed preferences over risk and uncertainty
Polisson, Matthew; Quah, John K.-H.; Renou, Ludovic - 2017
data with a broad class of models of choice under risk and under uncertainty. Our method allows for risk loving and elation …
Persistent link: https://www.econbiz.de/10011671892