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Ongoing global changes bring fundamentally new scientific problems requiring new concepts and tools. A key issue concerns a vast variety of practically irreducible uncertainties, which challenge our traditional models and require new concepts and analytical tools. The uncertainty critically...
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experiment with skill-based payoffs by systematically varying two key elements of the market environment: demand risk and … expected market size. Results show that people's reactions to demand risk depend on the market size: in small markets people … inefficiencies in both cases: demand risk significantly amplifies overentry in small markets and underentry in large markets. Skill …
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