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Differential awareness, ambiguity, and incomplete contracts : a model of contractual disputes
Grant, Simon; Kline, J. Jude; Quiggin, John C. - In: Journal of economic behavior & organization : JEBO 82 (2012) 2/3, pp. 494-504
Persistent link: https://www.econbiz.de/10009659967
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Uncertainty and sustainability in the management of semi-arid rangelands
Quaas, Martin; Baumgärtner, Stefan; Becker, Christian; … - 2004
We analyze a dynamic and stochastic ecological-economic model of grazing management in semi-arid range lands. The non …-equilibrium ecosystem is driven by stochastic precipitation. A risk averse farmer chooses a grazing management strategy under uncertainty … such as to maximize expected utility from farming income. Grazing management strategies are rules about which share of the …
Persistent link: https://www.econbiz.de/10003246066
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Rangeland Management Under Uncertainty : A Conceptual Approach
Batabyal, Amitrajeet A.; Godfrey, E. Bruce - 2001
A conceptual approach is commonly needed to provide guidance for empirical analyses concerning the use of renewable resources such as rangelands. The theoretical model constructed in this paper captures the essential aspects of dynamic and stochastic issues associated with the management of...
Persistent link: https://www.econbiz.de/10014134038
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Rangeland Management Under Uncertainty : A Conceptual Approach
Batabyal, Amitrajeet A.; Godfrey, E. Bruce - 2002
A conceptual approach is commonly needed to provide guidance for empirical analyses concerning the use of renewable resources such as rangelands. The theoretical model constructed in this paper captures the essential aspects of dynamic and stochastic issues associated with the management of...
Persistent link: https://www.econbiz.de/10014120971
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Uncertainty and sustainability in the management of semi-arid rangelands
Quaas, Martin F.; Baumgärtner, Stefan; Becker, Christian; … - 2005
We analyze a dynamic and stochastic ecological-economic model of grazing management in semi-arid rangelands. The non …-equilibrium ecosystem is driven by stochastic precipitation. A risk averse farmer chooses a grazing management strategy under uncertainty … such as to maximize expected utility from farming income. Grazing management strategies are rules about which share of the …
Persistent link: https://www.econbiz.de/10010467001
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Ambiguity framed
Schneider, Mark; Leland, Jonathan W.; Wilcox, Nathaniel T. - 2016
Persistent link: https://www.econbiz.de/10011486367
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Learning and dynamic choices under uncertainty : from weighted regret and rejoice to expected utility
Zagonari, Fabio - 2016
This paper identifies the globally stable conditions under which an individual facing the same choice in many subsequent times learns to behave as prescribed by the expected-utility model. To do so, the analysis moves from the relevant behavioural models suggested by psychology (i.e., weighted...
Persistent link: https://www.econbiz.de/10011703316
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The myopic property in decision models
Baucells, Manel; Sarin, Rakesh - In: Decision analysis : a journal of the Institute for … 16 (2019) 2, pp. 128-141
Persistent link: https://www.econbiz.de/10012025130
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Decision making under uncertainty when preference information is incomplete
Armbruster, Benjamin; Delage, Erick - In: Management science : journal of the Institute for … 61 (2015) 1, pp. 111-128
Persistent link: https://www.econbiz.de/10010496061
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Uncertainty and natural resources : prudence facing doomsday
Emmerling, Johannes - 2015
This paper studies the optimal extraction of a non-renewable resource under uncertainty using a discrete-time approach in the spirit of the literature on precautionary savings. We find that boundedness of the utility function, in particular the assumption about U(0), gives very different results...
Persistent link: https://www.econbiz.de/10010528821