Macroeconomic expectations of various economic agents are characterized by substantial crosssectional heterogeneity. This chapter focuses on heterogeneity in the expectations among professional forecasters, first presenting stylized facts and discussing theoretical explanations for heterogeneous...

Unethical pro-organisational behaviour (UPB) is an ongoing concern, prompting the need for more nuanced understanding of the workplace environment most likely to inhibit it. This study considers the role of risk climate, sometimes referred to as risk culture, as well as ethical climate, for...

Risk climate (sometimes referred to as risk culture) has become an increasingly important focus since the 2007-2009 financial crisis. Despite efforts to inculcate risk climate, unethical pro-organisational behaviour (UPB) such as misconduct toward customers continues to occur. This study...

We introduce the concept of “negative bubbles” as the mirror image of standard financial bubbles, in which positive feedback mechanisms may lead to transient accelerating price falls. To model these negative bubbles, we adapt the Johansen-Ledoit-Sornette (JLS) model of rational expectation...