-world quantities with transparent uncertainty quantification, than when based on “optimal” model-land quantities obtained from …

Roy (Safety First and the Holding of Assets, 1952) argues that decisions under uncertainty motivate firms to avoid … such as inelastic pricing, why the firm takes on more risk as gains become less likely, and asymmetric responses to demand …

there is uncertainty about the marginal costs of the newly merged firms. The authors consider that the merging firms decide … always have incentives to merge, irrespective of cost uncertainty, while a merger without role redistribution is ex ante … profitable if and only if uncertainty is sufficiently great. As regards the social desirability of mergers, it is found that a …

An important question for central banks is how they should report the uncertainty of their forecasts. This paper … discusses a way in which a central bank could report the uncertainty of its forecasts in a world in which it used a single …

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, where uncertainty arises from incomplete information. Degrees of … uncertainty (or ambiguity) refer to the quantifiable extent of incompleteness. In contrast, Keynesian uncertainty cannot, even in …