One of Keynes’ core issues in his liquidity preference theory is how fundamental uncertainty affects the propensity to …

One of Keynes' core issues in his liquidity preference theory is how fundamental uncertainty affects the propensity to …

One of Keynes' core issues in his liquidity preference theory is how fundamental uncertainty affects the propensity to …

In the paper, we consider the application of the theory of probability metrics in several areas in the eld of nance …, the methods of the theory of probability metrics can be used to arrive at a general axiomatic treatment of dispersion … metrics theory are applied to the benchmark-tracking problem significantly extending the problem setting …

under ambiguity, called Shadow probability theory, a generalization of the Choquet expected utility. In this model … space. Risk and risk attitude, on the other hand, apply to the subordinated space, as in classical expected utility theory … the classical asset pricing theory by incorporating ambiguous probabilities. It proposes a well defined ambiguity premium …

neutral measure, which is also a risk-adjusted measure. Using risk preference theory, we interpret this change in probability …

prospect theory as well as its special cases — Quiggin (1981) rank-dependent utility and Yaari (1987) dual model. The proposed … averse (attracted) to the dispersion of outcomes. Cumulative prospect theory with our proposed probability weighting function …