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Merging of Opinions under Uncertainty
Bier, Monika; Engelage, Daniel - Institut für Mathematische Wirtschaftsforschung, … - 2010
that all uncertainty is revealed in the limit and agents behave as expected utility maximizer under the true underlying …
Persistent link: https://www.econbiz.de/10008494096
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Merging of Opinions under Uncertainty
Bier, Monika; Engelage, Daniel - University of Bonn, Germany - 2010
that all uncertainty is revealed in the limit and agents behave as expected utility maximizer under the true underlying …
Persistent link: https://www.econbiz.de/10008464926
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Rozmyte zbiory probabilistyczne jako narzędzie finansów behawioralnych
Piasecki, Krzysztof - Volkswirtschaftliche Fakultät, … - 2011
under uncertainty and imprecision risk. In the fifth part fuzzy probabilistic sets are applied for actuarial mathematics. …
Persistent link: https://www.econbiz.de/10011260964
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Risk and uncertainty in strategic decision making
Fotr, Jiří; Švecová, Lenka - In: Politická ekonomie 2006 (2006) 1, pp. 87-107
Importance of risk and uncertainty in present period of dynamic changes grows. The article deals with risk and … uncertainty in strategic decision making. First the concepts of risk and uncertainty and possibilities of their measurement are … is on discussion of decision making methods under risk and uncertainty (including decision tables, scenarios, Monte Carlo …
Persistent link: https://www.econbiz.de/10005258283
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Education Choice under Uncertainty - Implications for Public Policy
Hogan, Vincent; Walker, Ian - School of Economics, University College Dublin - 2006
We analyse how progressive taxation and education subsidies affect schooling decisions when the returns to education are stochastic. We use the theory of real options to solve the problem of education choice in a dynamic stochastic model. We show that education attainment will be an increasing...
Persistent link: https://www.econbiz.de/10005686032
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Education Choice under Uncertainty and Public Policy
Hogan, Vincent; Walker, Ian - School of Economics, University College Dublin - 2003
We analyse how progressive taxation and education subsidies affect schooling deci- sions when the returns to education are stochastic. We use the theory of real options to solve the problem of education choice in a dynamic, life-cycle consistent, stochastic model. We show that education...
Persistent link: https://www.econbiz.de/10005686061
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Dynamic Hedging in Incomplete Markets: A Simple Solution
Basak, Suleyman; Chabakauri, Georgy - C.E.P.R. Discussion Papers - 2011
Despite much work on hedging in incomplete markets, the literature still lacks tractable dynamic hedges in plausible environments. In this article, we provide a simple solution to this problem in a general incomplete-market economy in which a hedger, guided by the traditional minimum-variance...
Persistent link: https://www.econbiz.de/10009024486
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Dynamic Mean-Variance Asset Allocation
Basak, Suleyman; Chabakauri, Georgy - C.E.P.R. Discussion Papers - 2009
Mean-variance criteria remain prevalent in multi-period problems, and yet not much is known about their dynamically optimal policies. We provide a fully analytical characterization of the optimal dynamic mean-variance portfolios within a general incomplete-market economy, and recover a simple...
Persistent link: https://www.econbiz.de/10005656376
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Ambiguous Jump-Diffusions and Optimal Stopping
Boyarchenko, Svetlana; Levendorskii, Sergei - Department of Economics, University of Texas-Austin - 2014
profit stream under the Knightian uncertainty. Multiple priors are modeled as a ``cloud" of diffusion processes with embedded …
Persistent link: https://www.econbiz.de/10010944717
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Land Conversion Pace under Uncertainty and Irreversibility: too fast or too slow?
Corato, Luca Di; Moretto, Michele; Vergalli, Sergio - Fondazione ENI Enrico Mattei (FEEM) - 2011
landholders under uncertainty about the value of environmental services and irreversible development. We study land conversion … Government to induce adequate participation in a conservation plan. We study the impact of uncertainty on the optimal conversion … of deforestation. Interestingly, we show that uncertainty, even if it induces conversion postponement in the short …
Persistent link: https://www.econbiz.de/10009421254