, and the implications for corporate business models. It then considers the evolution and development of markets, both for …

This study conducts experimental asset markets to examine the effects of circuit breaker rules on market behavior when … others possess private information, causing price to move away from fundamental value. Allocative efficiencies in our markets … are high across all regimes. Circuit breakers perform no useful function in our experimental asset markets. …

on market prices, traders' abilities to assess asset value, and the link between the two. Across the fifteen markets, the …This study reports the results of fifteen experimental asset markets designed to investigate the effects of forecasts … authors investigate alternative forecast-generating processes. In some markets the process produces an unbiased estimate of …

than diversifying across industries in terms of risk reduction. But with the rise in comovement across national stock … markets since the mid-1990s, this no longer appears to be true. We explore whether this change is driven by global integration … still be effective in reducing portfolio risk. …

emerged in many European countries after World War I. We demonstrate that economic policy uncertainty was instrumental in … Hungary (GAPH) suffered from frequent uncertainty shocks – and correspondingly high levels of uncertainty – caused by …. In contrast, other European countries exhibited lower levels of measured uncertainty between 1919 and 1925, allowing them …

bounds can only address emissions uncertainty. Using a numerical stochastic optimization model with equilibrium constraints …

This paper discusses methods to quantify risk and uncertainty in macroeconomic forecasts. Both, parametric and non … macroeconometric model of the Bundesbank for Germany. Forecast intervals that integrate judgement on risk and uncertainty are obtained. …

We present a tractable model of the effects of nonfinancial risk on intertemporal choice. Our purpose is to provide a … economy, where most modelers have chosen not to incorporate serious nonfinancial risk because available methods were too … most of the key implications of nonfinancial risk for intertemporal choice. …

discuss the transaction attributes 'asset specificity' and 'uncertainty' and identify conceptual gaps that lead to ambiguous …