support for the hypothesis that attitude to risk and attitude to ambiguity are two independent phenomena. In fact in this … experiment, decision-makers are both risk-seekers (i.e., the mean WTP for insurance is on average smaller than the expected value … of the loss) and ambiguity averse (i.e., the mean WTP for insurance is on average higher for an ambiguous risk than for a …

financial risk-taking in forestry decisions. Using a two-period mean-variance setting, the harvesting decisions of NIPF owners … are examined with the aim of measuring their willingness to take risks. Since willingness to pay for reduction of risk is … empirically unobservable, I rely on an index of NIPF owners’ attitudes to risk from a hypothetical survey question involving …

approximate optimal management. If changes are observed without too much delay, profit losses and errors in harvesting are …

approximate optimal management. If changes are observed without too much delay, profit losses and errors in harvesting are …

approximate optimal management. If changes are observed without too much delay, profit losses and errors in harvesting are …

The paper reexamines the ethics of intergenerational risk. When risk re-solves gradually, earlier decisions cannot …, the intensity of risk, and the way risk resolves over time. The characterized class of reference-dependent utilitarian … welfare criteria: (i) disentangle aversion to intergenerational inequality from aversion to risk; (ii) value an early …

The paper reexamines the ethics of intergenerational risk. When risk re-solves gradually, earlier decisions cannot …, the intensity of risk, and the way risk resolves over time. The characterized class of reference-dependent utilitarian … welfare criteria: (i) disentangle aversion to intergenerational inequality from aversion to risk; (ii) value an early …

Modeling the price risk of CO2 certificates is one important aspect of integral corporate risk management related to … emissions trading. The paper presents a risk model which may be the basis for evaluating the risk of emission certificate prices …