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Case-Based Belief Formation under Ambiguity
Eichberger, Jürgen; Guerdjikova, Ani - 2010
In this paper, we consider a decision-maker who tries to learn the distribution of outcomes from previously observed cases. For each observed database of cases the decision-maker predicts a set of priors expressing his beliefs about the underlying probability distribution. We impose a version of...
Persistent link: https://www.econbiz.de/10010270218
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Biodiversity Prospecting Over Time and Under Uncertainty: A Theory of Sorts
Batabyal, Amit; Nijkamp, Peter - 2014
Biodiversity prospecting refers to the exploration of the commercial value of genetic and biochemical resources. In this chapter, we study a drug producing pharmaceutical firm (PF) that searches for potentially useful chemicals made by wild organisms in a conservation area. This PF is able to...
Persistent link: https://www.econbiz.de/10011400113
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Multinational firms' organisational dynamics: Competition intensity and the ownership decision under uncertainty
Navarro, Leandro - 2021
I analyse firms organisational choices when they face uncertainty about institutional conditions in foreign locations with heterogeneous final good producers and incomplete contracts. As firms learn about the conditions abroad, the increasing offshoring activity increases competition in the...
Persistent link: https://www.econbiz.de/10012623135
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Dynamic Consistency and Ambiguous Communication
Pahlke, Marieke - 2022
Persistent link: https://www.econbiz.de/10013359241
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Visualization in a Knowledge Transfer Process
Opiła, Janusz - 2018
Visualization is not only an important part of experimental data analysis process but also an efficient tool for transfer of acquired knowledge in multiple areas including, but not restricted to, ICT, general scientific discussion, innovation, data mining, decision support systems as well as...
Persistent link: https://www.econbiz.de/10011920477
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Career choice under uncertainty
Konon, Alexander - 2016
Contemporary theoretical literature on occupational choice consists mostly of models that treat choice outcomes as either deterministic or risky. This paper proposes taking a slightly more realistic perspective by constructing a general occupational choice model on the basis of the assumption...
Persistent link: https://www.econbiz.de/10011527710
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Impatience and Uncertainty: Experimental Decisions Predict Adolescents' Field Behavior
Rützler, Daniela; Sutter, Matthias; Kocher, Martin G.; … - 2011
We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to …) and are less likely to save money. Experimental measures for risk and ambiguity attitudes are only weak predictors of …
Persistent link: https://www.econbiz.de/10010305955
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What drives updates of inflation expectations? A Bayesian VAR analysis for the G-7 countries
Belke, Ansgar; Beckmann, Joscha; Dubova, Irina - 2018
Inflation expectations play a crucial role for monetary policy transmission, having become even more important since the emergence of unconventional monetary policy. Based on survey data provided by Consensus Economics, we assess determinants of professional inflation expectations for the G7...
Persistent link: https://www.econbiz.de/10011892023
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Social Reference Points and Risk Taking
Schwerter, Frederik - 2015
We test whether social reference points impact individual risk taking. In a laboratory experiment, decision makers observe the earnings of a peer subject before making a risky choice. We exogenously manipulate the peer earnings across two treatments. We find a significant treatment effect on...
Persistent link: https://www.econbiz.de/10011301485
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Uncertainty shocks and non-fundamental debt crises: An ambiguity approach
Große Steffen, Christoph - 2015
-varying levels of ambiguity surrounding the macroeconomic fundamental of the economy. A business cycle model with strategic sovereign … default is augmented with ambiguity averse investors with multiple-priors utility. I find that uncertainty shocks increase the … core and periphery countries can partly be rationalised by accounting for ambiguity premia. …
Persistent link: https://www.econbiz.de/10011301532