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In this essay, three separate yet interconnected components of pro-environmental decision making are considered: (a) knowledge, in the form of basic scientific understanding and procedural knowledge, (b) risk perception, as it relates to an individual's direct experience of climate change and...
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In this essay, three separate yet interconnected components of pro-environmental decision making are considered: knowledge, in the form of basic scientific understanding and procedural knowledge, risk perception, as it relates to an individual’s direct experience of climate change and...
Persistent link: https://www.econbiz.de/10014175620
normative decision-making axioms may be Pareto-inferior or superior. Without a well-specified theory of aggregation, individual …
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This paper addresses the problem of utility maximization under uncertain parameters. In contrast with the classical approach, where the parameters of the model evolve freely within a given range, we constrain them via a penalty function. We show that this robust optimization process can be...
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