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impacts of different types of uncertainty and illustrate several cases in which the agent may respond to incentive contracts …
Persistent link: https://www.econbiz.de/10013131545
This paper extends decision making under risk and uncertainty to group theory via representations of invariant …
Persistent link: https://www.econbiz.de/10013096459
This paper considers investment problems in real options with non-homogeneous two-factor uncertainty. It shows that …
Persistent link: https://www.econbiz.de/10012928025
Importance of risk and uncertainty in present period of dynamic changes grows. The article deals with risk and … uncertainty in strategic decision making. First the concepts of risk and uncertainty and possibilities of their measurement are … is on discussion of decision making methods under risk and uncertainty (including decision tables, scenarios, Monte Carlo …
Persistent link: https://www.econbiz.de/10005258283
We consider a standard one-agent decision-making problem under risk and we address the following question: under what conditions is utility maximization equivalent to 'risk' minimization, where the measure of risk used by the decision-maker is a conservative coherent risk measure?
Persistent link: https://www.econbiz.de/10014263940
The major challenge of the 21st century is to achieve food security under, roughly, a doubling in food demand by 2050 compared to present, and producing the additional food under marked shifts in climatic risks and with environmentally sound farming practices. Sustainable intensification of...
Persistent link: https://www.econbiz.de/10011588710
that all uncertainty is revealed in the limit and agents behave as expected utility maximizer under the true underlying … ; Uncertainty ; Robust Representation ; Time-Consistency ; Blackwell-Dubins …
Persistent link: https://www.econbiz.de/10003980912
that all uncertainty is revealed in the limit and agents behave as expected utility maximizer under the true underlying … ; Uncertainty ; Robust Representation ; Time-Consistency ; Blackwell-Dubins …
Persistent link: https://www.econbiz.de/10003966953
We analyse how progressive taxation and education subsidies affect schooling decisions when the returns to education are stochastic. We use the theory of real options to solve the problem of education choice in a dynamic, life-cycle consistent, stochastic model. We show that education attainment...
Persistent link: https://www.econbiz.de/10010293835