uncertainty significantly reduces managers' expected investment, employment and production in the short and mid run. We collect …This paper studies the dynamic effects of an uncertainty shock on firm expectations. We conduct a survey that confronts … managers from a representative firm sample with a model-consistent uncertainty shock scenario. An exogenous increase in …

We find that high macroeconomic uncertainty is associated with greater accumulation of physical capital, despite a … reduction in investment and valuations. To reconcile this puzzling evidence, we show that uncertainty predicts lower … a quantitative production-based model in which firms implement precautionary savings through reducing utilization rather …

Previous studies focused on the comparison of the optimal output levels of regret- averse firms under uncertainty and … firms under certainty. This paper extends the theory by further investigating the effects of regret-aversion on production …. We compare the optimal output levels of regret-averse firms with purely risk- averse firms under uncertainty and firms …

. This paper examines the production responses to unexpected hospital demand on a sample of Greek public hospitals over the … emergency admissions using an Autoregressive Moving Average model. The results support the hypothesis that production reactions …

We analyze an infinite horizon, single product, periodic review model in which pricing and production …

. -- Prospect theory ; mean-variance model ; indifference curve ; price uncertainty ; hedging …