although risk can be measured, uncertainty cannot be measured. Even though risk can be measured, a simple symmetric measure … attempt at "measuring" risk or (fundamental) uncertainty is flawed. … surge in the stock market would be self-correcting. Recent papers have discussed the role of "uncertainty" and its …

robustness under risk aversion and ambiguity aversion. We aim to understand the potential consequences of deeply uncertain … chain-level preparedness to aggregate shocks. Augmenting a parsimonious supply chain model with uncertainty, we analyse the … relationship between the upstream sourcing decisions and the supply chain survival probability. Both risk-averse and ambiguity …

-form expressions of welfare loss from shocks and epistemological uncertainty identify the interaction of (intertemporal) risk attitude … is comparable to numeric models used in policy advising. Uncertainty surrounding climate change remains large. The closed …, distributional moments, and the climatic shadow values. Welfare gains from reducing uncertainty about temperature feedbacks are much …

The paper proposes a novel way to handle the relation between decision theory and uncertainty in the context of policy … design. Present risk governance is based primarily on two institutions - insurance markets and public risk governance … - supported by a powerful theory: the expected utility approach to risk. New systemic risks like those of nuclear war, pandemics …