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Prominent numbers, indices and ratios in exchange rate determination and financial crashes : in Economists' models, in the field and in the laboratory

Pope, Robin; Selten, Reinhard; Kube, Sebastian; Hagen, … - 2009

laboratory. Third, nominalist heuristics are incompatible with expected utility theory which excludes the evaluation stage, and … are also incompatible with prospect theory which assumes that, while the evaluation stage can involve systematic mistakes … model and identify what is a mistake, and b) decision makers can maximise. However, contrary to prospect theory, in the …

Persistent link: https://www.econbiz.de/10003867227

Climate change: a bundle of uncertainties

Schelling, Thomas C. - In: Changing climate, changing economy, (pp. 7-28). 2009

Persistent link: https://www.econbiz.de/10003916874

Optimal monetary policy with informational frictions

Angeletos, Marios; La’O, Jennifer - 2011

We study optimal monetary policy in an environment in which firms' pricing and production decisions are subject to informational frictions. Our framework accommodates multiple formalizations of these frictions, including dispersed private information, sticky information, and certain forms of...

Persistent link: https://www.econbiz.de/10009489131

The impact of uncertainty on investment : a meta-analysis

Koetse, Mark J.; Groot, Henri L. F. de; Florax, Raymond … - 2006

In this paper we perform a meta-analysis on empirical estimates of the impact between investment and uncertainty. Since the outcomes of primary studies are largely incomparable with respect to the magnitude of the effect, our analysis focuses on the direction and statistical significance of the...

Persistent link: https://www.econbiz.de/10011349194