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Assuming a risk-neutral bank and assuming household utility to be exponential, we show how under information symmetry … option makes household borrowing behaviour unpredictable. …
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Risk management is a complex process that requires company managers to have very good knowledge of its organizational … research is focused only on one of the main problems in risk management, namely the study of the standard deviation of the risk … in the process of assessing and analyzing the risks in tourism sector enterprises. Two hypotheses are presented for …
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The purpose of this paper is to clarify the difference between the mainstream and Keynesian understandings of uncertainty which persists in spite of superficial similarities. It is argued that the difference stems from the mainstream habit of thinking in terms of a full-information benchmark,...
Persistent link: https://www.econbiz.de/10011419145
In spite of superficial similarities, the way in which uncertainty is understood as a feature of the crisis by mainstream economics is very different from Keynesian fundamental uncertainty. The difference stems from the mainstream habit of thinking in terms of a full-information benchmark, where...
Persistent link: https://www.econbiz.de/10011279689