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reliance, identify possible vulnerabilities by simulating shocks to GSCs in presence of uncertainty. We stress test supply … sourcing diversification changes in the presence of uncertainty and what are the implications for supply chain robustness and …
Persistent link: https://www.econbiz.de/10013443613
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Probabilistic risk beliefs are key drivers of economic and health decisions, but people are not always certain about their beliefs. We study these "imprecise probabilities", also known as ambiguous beliefs. We show that imprecision is measurable separately from the levels of risk beliefs. People...
Persistent link: https://www.econbiz.de/10014390526
relationship between the upstream sourcing decisions and the supply chain survival probability. Both risk-averse and ambiguity … robustness under risk aversion and ambiguity aversion. We aim to understand the potential consequences of deeply uncertain … chain-level preparedness to aggregate shocks. Augmenting a parsimonious supply chain model with uncertainty, we analyse the …
Persistent link: https://www.econbiz.de/10014520125
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We relate time-varying aggregate ambiguity (V-VSTOXX) to individual investor trading. We use the trading records of … an increase in ambiguity is associated with increased investor activity. It also leads to a reduction in risk …-taking which does not reverse over the following days. When ambiguity is high, the effect of sentiment looms larger. Survey …
Persistent link: https://www.econbiz.de/10012387918
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The question of how to deal with uncertainty in environmental decision-making is cur-rently attracting considerable … uncertainty becomes particularly apparent in the field of environmental policy because environmental prob-lems are regarded as … the challenge to develop scientific decision support methods that are capable of dealing with uncertainty in a systematic …
Persistent link: https://www.econbiz.de/10010304368
Making decisions under uncertainty is at the core of human decision-making, particularly economic decision-making. In … economics, a distinction is often made between quantifiable uncertainty (risk) and un-quantifiable uncertainty (Knight …, Uncertainty and Profit, 1921). However, this distinction is often ignored by, in effect, the quantification of unquantifiable …
Persistent link: https://www.econbiz.de/10011291850
economy, this paper suggests the two disciplines face a common problem when it comes to uncertainty. It is argued that … intervention, are as yet any nearer to providing robust solutions to the problems posed by Keynesian uncertainty. Under the … uncertainty follows, suggesting a future research agenda in this area of common interest to AI and economics. …
Persistent link: https://www.econbiz.de/10011443390