Subjective expectations about future policy play an important role in individuals' welfare. We examine how workers …' expectations about pension reform vary with proximity to reforms, information cost, and aggregate information acquisition. We …-level representative survey data on expectations about future reforms and countrylevel data on online search. We find: (1) Expectations are …

Subjective expectations about future policy play an important role in individuals' welfare. We examine how workers …' expectations about pension reform vary with proximity to reforms, information cost, and aggregate information acquisition. We …-level representative survey data on expectations about future reforms and country-level data on online search. We find: (1) Expectations …

. Macroeconomists increasingly rely on survey data on subjective expectations. An innovative approach to measure aggregate uncertainty … exploits the rounding patterns in individuals' responses to survey questions on inflation expectations (Binder, 2017). This … inflation expectations. …

This paper studies the dynamic effects of an uncertainty shock on firm expectations. We conduct a survey that confronts …

problem is multilateral punishment, whereby groups of principals jointly punish cheating agents by giving them bad reputations …. But how does such punishment work when there is uncertainty regarding whether an agent actually cheated or was just the … to employ multilateral punishment. We find that a modest amount of uncertainty increases overall welfare because …

standard rational expectations model. The ex-ante consumption equivalent variation that equates the expected utility of …