result is derived without specifying income uncertainty, which can follow any kind of stochastically monotone process, and …

Research has long documented how different forms of uncertainty, namely risk and ambiguity, influence decision making … uncertainty of potential outcomes. Some decisions may be social in nature where the uncertainty is generated by another person …, whereas other decisions may be non-social involving uncertainty that is generated by probabilistic mechanisms. While past …

Although uncertainty plays an important role in economic decisionmaking, empirical measures of individuals' uncertainty … are rare. The literature on cognition and communication documents that people use round numbers to convey uncertainty …. This paper introduces a method of quantifying the uncertainty associated with round responses in survey data, allowing …

health care reform in the United States is a potentially important source of households' financial uncertainty. To quantify … the implications of this uncertainty for the real economy, this paper conducts an empirical analysis of the effect of … health care policy uncertainty (HCPU) on two channels of households' economic behavior: consumption and portfolio choice …

credit constraints; (iv) as set market crashes. In simulations and in the data we aggregate explicitly from individual … behavior. We model credit tightening as a constraint on new borrowing and this generates an option value of borrowing in good … times. We show that the rise in the aggregate savings ratio is driven by increases in uncertainty, rather than tightening of …

, while inattentive agents plan every other period. Infrequent planning increases uncertainty concerning future income or … uncertainty is future income, inattentive consumers will still accumulate more wealth. In contrast, in a version of the model …