standard model is advanced by including irreversibility and uncertainty and taking into account transaction costs of …

standard model is advanced by including irreversibility and uncertainty and taking into account transaction costs of …

and Pindyck, 1994) an investment plan under uncertainty is derived. In contrast to static models firms postpone their …

risk preferences. Here, we develop an analogous tool for choice under uncertainty – the ambiguity triangle – and show that …

is comparable to numeric models used in policy advising. Uncertainty surrounding climate change remains large. The closed …-form expressions of welfare loss from shocks and epistemological uncertainty identify the interaction of (intertemporal) risk attitude …, distributional moments, and the climatic shadow values. Welfare gains from reducing uncertainty about temperature feedbacks are much …

risk preferences. Here, we develop an analogous tool for choice under uncertainty - the ambiguity triangle - and show that …

In situations of what we now describe as radical uncertainty, the core model of agent behaviour, of rational autonomous … that in situations where radical uncertainty is present, we require theoretical "null" models of agent behaviour which are … different from those of economic rationality. Under uncertainty, fundamentally different behavioural rules are "rational". The …

Donors may often not be sure whether a recipient really deserves their help. Does this uncertainty deter generosity? In … an experiment we find that, to the contrary, under most specifications of uncertainty, dictators give more, compared with …

Ambiguity refers to a decision situation under uncertainty when there is incomplete information about the likelihood of …