Most studies that compare price and quantity controls for greenhouse gas emissions under uncertainty find that price … efficient catastrophe avoidance. Although previous studies favoring price policies in the presence of uncertainty have worried …

-transactions. These premia are credit spreads on top of the risk free interest rate and compensate investors for the expected annualized … default loss and for the risk of default losses. Focusing on the second component, the pure risk aversion premium, the paper … estimates the relative risk aversion (RRA) implied by the credit spreads and the loss distributions of 215 differently rated …

programmed to follow one of a number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best … response process, fictitious play, imitation, reinforcement learning, and a trial & error process. We explore how subjects …' performances depend on their opponents' learning algorithm. Furthermore, we test whether subjects try to influence those algorithms …

when deciding to enroll in the Conservation Reserve Program (CRP) under uncertainty. A theoretical model is employed to … related to the degree of risk aversion and the variability of returns. The econometric model shows that land benefits, land …

environmental regulation uncertainty. An increase in the cost of the environmental regulation moves a risk-averse firm closer to the …. Uncertainty about environmental regulations in the form of the abatement investment and taxes also leads a risk-averse firm to … abatement investment and taxes when the cost of the environmental regulation varies spatially under uncertainty. It contributes …

implication of the two nonlinear mean-standard deviation models to the empirical approach called "joint analysis of risk …

SUMMARY: This study focuses on the analysis of the production behavior and risk preferences in the presence of output … price uncertainty. Following a theoretical model based on the assumption of maximization of expected utility of profits, the … approach used in this study infers information about risk preferences from the production characteristics of the farm. In …

negatively related to basis risk, to quantity risk, and to transaction costs. Farmers who have less uncertainty about prices have … incentive to hedge can be greatly reduced. And finally, farmers who have low levels of risk aversion have little to gain from … hedging in terms of risk reduction, in that the certainty equivalent payoff at their optimal hedge may be little different to …