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Trade and competitiveness with other regions
High Level Group on the Competitiveness of the European … - 2009
Persistent link: https://www.econbiz.de/10009635860
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Energy, feedstock, infrastructure and logistics
High Level Group on the Competitiveness of the European … - 2008
Persistent link: https://www.econbiz.de/10009635861
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A General Treatment of Equilibrium under Ambiguity
Porchia, Paolo; Trojani, Fabio - Institut für Schweizerisches Bankwesen <Zürich> - 2005
In a continuous-time, pure exchange economy on a finite horizon financial agents display ambiguity aversion for a … from intertemporal consumption and terminal wealth, we investigate the impact of ambiguity aversion on asset prices from a …
Persistent link: https://www.econbiz.de/10005858525
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Ambiguity Aversion, Bond Pricing and the Non-Robustness of some affine Term Structures Ambiguity Aversion and the Term Structure of Interest Rates
Gagliardini, Patrick; Porchia, Paolo; Trojani, Fabio - Institut für Schweizerisches Bankwesen <Zürich> - 2005
We develop a continuous time general equilibrium yield curve model under ambiguity aversion. A moderate level of … ‘aggregate ambiguity’ affects significantly the term structure and can drive the prices of common interest rate derivatives …, with random factors unpriced under the ‘standard’ paradigm that pay a premium for ambiguity. We provide explicit …
Persistent link: https://www.econbiz.de/10005858865
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A Simple Model of Trading and Pricing RiskyAssets Under Ambiguity: Any Lessons forPolicy-Makers?
Guidolin, Massimo; Rinaldi, Francesca - Manchester Business School - 2008
populated by bothstandard expected utility maximizers and by ambiguity-averse investors that trade in the market fora risky … asset. We show that, provided there is a sufficient amount of ambiguity, market breakdownswhere large portions of traders …
Persistent link: https://www.econbiz.de/10005870697
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Portfolio and Consumption Decisions under Ambiguity for Regime Switching Mean Returns
Liu, Hening - Manchester Business School - 2009
This paper examines a continuous-time intertemporal consumption and portfolio choice problem foran ambiguity …
Persistent link: https://www.econbiz.de/10005870701
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Entscheidungskalküle jenseits des subjektiven Erwartungsnutzens
Lindstädt, Hagen - Institut für Angewandte Betriebswirtschaftslehre, … - 2004
Ausgangspunkt sind die bekannten empirischen Verstöße gegen Axiome der Bernoulli-Rationalität und die Diskussion um seine präskriptive Ausschließlichkeit. Der Beitrag teilt Nichterwartungsnutzenkalküle in Kategorien ein, die sich für eine Modellierung unterschiedlicher Arten von...
Persistent link: https://www.econbiz.de/10009005121
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Attitudes towards Uncertainty and Randomization: An Experimental Study
Dominiak, Adam; Schnedler, Wendelin - Alfred-Weber-Institut für Sozial- und … - 2009
Individuals exhibit a randomization preference if they prefer random mix-tures of two bets to each of the involved bets. Such preferences provide thefoundation of various models of uncertainty aversion. However, it has to ourknowledge not been empirically investigated whether uncertainty-averse...
Persistent link: https://www.econbiz.de/10009249012
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A Dynamic Ellsberg Urn Experiment
Dominiak, Adam; Dürsch, Peter; Lefort, Jean-Philippe - Alfred-Weber-Institut für Sozial- und … - 2009
Two rationality arguments are used to justify the link between condi-tional and unconditional preferences in decision theory: dynamic consistencyand consequentialism. Dynamic consistency requires that ex ante contingentchoices are respected by updated preferences. Consequentialism states...
Persistent link: https://www.econbiz.de/10009249016