Two properties of preferences and representations for choice under uncertainty which play an important role in decision … event and which corresponds to the individual's preferences. The conventional Bayesian theory of choice under uncertainty …

sanctions-and-rewards mechanism, it is important to consider individual attitudes toward risk and uncertainty. …

significant uncertainty facing existing sources. Second, EPA’s proposed averaging option for new facilities that will install … creates some new regulatory uncertainty. We also comment on EPA’s decision to combine most coal and gas generators into a …

The paper studies the interaction between cyclical uncertainty and investment in a stochastic real option framework … of the link between cyclical uncertainty and investment is quantified using simulations of the model. The chief …

Uncertainty about product quality is endemic in international trade. We develop a dynamic, two country model where home … initially but known once the product is consumed. We show that this uncertainty generates an information cost of exporting, over … intermediaries in alleviating quality uncertainty. An intermediation technology involving higher marginal cost but lower fixed cost …

We investigate the importance of explicitly accounting for uncertainty in the determination of optimal global climate … policy. We demonstrate that the marginal risk premium determines the importance of adapting the optimal policy to uncertainty …. Common integrated assessment models (IAM) of climate change suggest uncertainty has little effect because the marginal risk …