agents' beliefs matters. Private agents with heterogeneous beliefs are assumed to choose from a list of potentially …

-level uncertainty and imperfect information over their life cycle. We find that firms make non-negligible and positively correlated … informed. Moreover, young firms tend to wait long before entering or exiting the market faced with high uncertainty about their …

players put into the project depending on the type of uncertainty faced. Furthermore, the delay of effort explains the …

Measuring economic uncertainty is crucial for understanding investment decisions by individuals and firms …. Macroeconomists increasingly rely on survey data on subjective expectations. An innovative approach to measure aggregate uncertainty … uncertainty. The results provide evidence for the existence of considerable heterogeneity in individuals' response behavior and …

, decision makers can be biased, display aversion to prior uncertainty, and thus tend to select choices that are familiar (i … of risk-averse investors who select risky projects in an environment characterized by epistemic uncertainty (risk …

What are the effects of beliefs, sentiment, and uncertainty, over the business cycle? To answer this question, we …) and their beliefs may be influenced by their perceptions about future uncertainty. We estimate the behavioral model using … fluctuations. Shifts in perceived uncertainty can also affect real activity and inflation through a confidence channel, as they …

We develop a dynamic model where heterogeneous firms take investment decisions depending on their beliefs on future …