Consider legal uncertainty as uncertainty about the legality of a specific action. In particular, suppose that the … threshold of legality is uncertain. I show that this legal uncertainty raises welfare. Legal uncertainty changes deterrence in … decreases for firms above the threshold. Hence, legal uncertainty acts as a welfare enhancing screen and increases welfare …

may involve higher cost uncertainty and severer information asymmetry. Motivated by these observations, we consider a … latter has a lower average cost. Second, reducing the cost uncertainty or improving the signal accuracy of the U … mitigate cost uncertainty or better cost estimation. Third, higher competition intensity leads the diversified sourcing …

) decisions. The asymmetric information along the supply chain effectively transmits the downstream uncertainty backward to the …

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 …

We apply a model of preferences for information to the domain of decision making under risk and ambiguity. An uncertain … attention to the information gap. To the extent that the uncertainty (or other circumstances) makes the information gap … unpleasant to think about, an individual tends to be averse to risk and ambiguity. Yet in circumstances in which thinking about …