This paper describes results from a new experiment studying determinants and effects of economic risk-taking. In each session four subjects choose three slots for ice fishing on their portion of a frozen lake. The farther out on the lake the higher are the returns but also the higher is the risk...

The principal contribution of this paper is to investigate the relationship between policy uncertainty, caused by recent developments in international markets, and firms' trade margins for the largest economy in Africa: South Africa. In particular, using a unique database on the population of...

The study investigates the impact of adverse geopolitical events and investments in energy technology innovations on renewable energy consumption using the newspaper-based geopolitical risk (GPR) index introduced by Caldara and Iacoviello (2022). With the first and most extensive cross-country...

Climate change is seen as the most pressing environmental problem of our time by many companies, policymakers and other stakeholders. It is currently also at the forefront of attention in view of attempts to conclude a successor to the Kyoto Protocol that expires in 2012. In bail-out plans and...

This paper analyzes the impact of job insecurity perceptions on individual well-being. While previous studies on the subject have used the concept of perceived job insecurity rather arbitrarily, the present analysis explicitly takes into account individual perceptions about both the likelihood...

This paper analyzes the impact of job insecurity perceptions on individual well-being. In contrast to previous studies, we explicitly take into account perceptions about both the likelihood and the potential costs of job loss and demonstrate that most contributions to the literature suffer from...

The purpose of this paper is to provide a non-technical exposition of the main conclusions of the theory of Rational Belief Equilibrium (RBE) for market volatility. It is argued that the theory of Rational Belief Equilibria (RBE) provides a unified paradigm for explaining market volatility by...

Endogenous Uncertainty is that component of economic risk and market volatility which is propagated within the economy by the beliefs and actions of agents. The theory of Rational Belief (see Kurz [1994]) permits rational agents to hold diverse beliefs and consequently, a Rational Belief...