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Time, ignorance, and uncertainty in economic models
Katzner, Donald W. - 1998
Persistent link: https://www.econbiz.de/10000677351
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Coping with uncertainty : modeling and policy issues
Marti, Kurt (agent) - 2006
Ongoing global changes bring fundamentally new scientific problems requiring new concepts and tools. A key issue concerns a vast variety of practically irreducible uncertainties, which challenge our traditional models and require new concepts and analytical tools. The uncertainty critically...
Persistent link: https://www.econbiz.de/10003328653
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Uncertainty outside and inside economic models
Hansen, Lars Peter - 2014
Persistent link: https://www.econbiz.de/10010412425
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Wrestling with Uncertainty in Climate Economic Models
Brock, William A. - 2019
This paper uses insights from decision theory under uncertainty to explore research challenges in climate economics. We … embrace a broad perspective of uncertainty with three components: risk (probabilities assigned by a given model), ambiguity … for using models to provide policy guidance. The uncertainty components and their implications for decision theory help us …
Persistent link: https://www.econbiz.de/10012901480
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Expected utility and catastrophic risk in a stochastic economy-climate model
Ikefuji, Masako; Laeven, Roger J. A.; Magnus, Jan R.; … - In: Journal of econometrics 214 (2020) 1, pp. 110-129
Persistent link: https://www.econbiz.de/10012438313
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Escape from model-land
Thompson, Erica L.; Smith, Leonard A. - 2019
Both mathematical modelling and simulation methods in general have contributed greatly to understanding, insight and forecasting in many fields including macroeconomics. Nevertheless, we must remain careful to distinguish model-land and model-land quantities from the real world. Decisions taken...
Persistent link: https://www.econbiz.de/10012110757
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Coping with Uncertainty : Modeling and Policy Issues
Marti, Kurt; Ermol'ev, Jurij M.; Makowski, Marek; … - 2006
Ongoing global changes pose fundamentally new scientific problems requiring new concepts and tools. A key issue concerns a vast variety of practically irreducible uncertainties, which challenge traditional models and require new concepts and analytical tools. Uncertainty can dominate, as in the...
Persistent link: https://www.econbiz.de/10013520564
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Uncertainty of climate models and policy implications : a European perspective
Greiner, Alfred - 2024
In this paper we show that both climate models and economic models studying the effects of climate change are characterized by high uncertainty. Hence, far reaching policy implications such as the net zero goal lack a definite scientific foundation. Neverthelss, it cannot be excluded that the...
Persistent link: https://www.econbiz.de/10015053416
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Financial optimization : [in November 1989 a conference took place at The Wharton School, University of Pennsylvania on the topic of financial optimization]
Zenios, Stavros Andrea (contributor); Zenios, Stavros A. (ed.) - 1995 - Reprinted
Persistent link: https://www.econbiz.de/10013493619
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A new comparative approach to macroeconomic modeling and policy analysis
Wieland, Volker; Cwik, Tobias; Müller, Gernot J.; … - In: Journal of economic behavior & organization : JEBO 83 (2012) 3, pp. 523-541
Persistent link: https://www.econbiz.de/10009698038