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China's rampant environmental pollution problems and rising greenhouse gas emissions and the resulting climate change are undermining its long-term economic growth. China, from its own perspective cannot afford to and, from an international perspective, is not meant to continue on the...
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risk. However, it is only recently that this intuitive notion has been formalized and axiomatically characterized. We … one can jointly estimate attitudes towards uncertainty, attitudes towards risk, and subjective probabilities in a rigorous … uncertainty aversion in an empirically tractable manner. Our results show that attitudes towards risk and uncertainty can be …
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performance of individual securities. Risk premia (spreads) increase with the proportion of traders in the market who are averse …
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This paper argues that the consequences of the ‘fragmentation’ of the European patent system are more dramatic than the mere prohibitive costs of maintaining a patent in force in many jurisdictions. First, detailed analysis of judicial systems in several European countries and four case...
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