theory, predicting that greater risk reduces contestants' incentives to exert effort. Moreover, the equilibrium prize spread … ambiguity adversely affects business unit managers' effort choices, project risk can partly offset the adverse effect of … is shown to decrease with ambiguity and increase with project risk. Finally, while greater project risk is unequivocally …

such “objective uncertainty” interacts with the strategic incentives of actors in international cooperation. The model … very different strategies given different structures of payoff uncertainty. In particular, the presence of observable … behavior and payoff uncertainty induce a bifurcation in cooperation objectives and hence strategies. In such a context, the …

how the agent’s risk attitude affects his decisions. This “Threshold Theory” framework is based on a real options approach … influence the agent’s risk attitude. The theory’s predictions help to explain many anomalies that the standard expected utility …In this paper we offer an alternative framework for examining why risk matters in the decisions of economic agents, and …

-making in the future. We examine how environmental uncertainty, quality of available performance measures and interim access to … the results from the model to cast light on (i) the conflicting empirical evidence on the risk-incentives tradeoff found …