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Ever since the emergence of economics as a distinct scientific discipline, policy makers have turned to economic models to guide policy interventions. If policy makers seek to enhance growth of an open capitalist economy, they have to take into account, firstly, the uncertainties,...
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This paper argues that radical uncertainty is the outcome of standard market activity. The theoretical findings are … corroborated with empirical analyses. The model example is applied to asset pricing and radical uncertainty is found a solution to … various asset pricing "puzzles". In conclusion, radical uncertainty should form the basis of economic analysis. …
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Ever since the emergence of economics as a distinct scientific discipline, policy makers have turned to economic models to guide policy interventions. If policy makers seek to enhance growth of an open capitalist economy, they have to take into account, firstly, the uncertainties,...
Persistent link: https://www.econbiz.de/10011281255
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Travelers often are incompletely informed about travel alternatives, which has important implications for various domains of travel behavior such as whether or not to make a trip, modal choice, the timing of a trip or route choice. During the last decade large efforts have been made to increase...
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