This study aims at characterizing the optimal regulation of risky activities when risk assessment is subjective as a …

increases in greenhouse gas concentrations and to reduce emissions of SO2 or CO2 under the continuous-time Knightian uncertainty …. Furthermore, we analyze the effects of increases in Knightian uncertainty on optimal environmental policies and the reservation … value. -- Knightian Uncertainty ; Environmental Policy ; Irreversibilities …

increases in greenhouse gas concentrations and to reduce emissions of SO2 or CO2 under the continuous-time Knightian uncertainty …. Furthermore, we analyze the effects of increases in Knightian uncertainty on optimal environmental policies and the reservation …

marginal social cost functions determine whether a price-based or quantity-based environmental regulation leads to higher … expected social welfare. We revisit the choice between price-based vs. quantity-based environmental regulation under Knightian … uncertainty; that is, when uncertainty cannot be modeled with known probability distributions. Under these circumstances, the …

Does increased policy uncertainty dampen investment plans of firms? We provide direct evidence on this question by … induced policy uncertainty have revised their investment plans differently from those that did not perceive an increase in … uncertainty. We find strong evidence that an increase in policy uncertainty does lead firms to reduce their investment plans. As …

Does increased policy uncertainty dampen investment plans of firms? We provide direct evidence on this question by … induced policy uncertainty have revised their investment plans differently from those that did not perceive an increase in … uncertainty. We find strong evidence that an increase in policy uncertainty does lead firms to reduce their investment plans. As …

lower exchange rate bound vis-à-vis the Euro. This unexpected change of regime induced a temporary uncertainty about future … the source of uncertainty and disentangle first and second moment effects. We find that price uncertainty affects … and suggest the use of disaggregated investment data to deepen our knowledge on the relationship between uncertainty and …