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uncertainty by a measure of confidence. Special cases of the model comprise discounting under smooth ambiguity aversion as well as … discounting under a disentanglement of risk aversion from aversion to intertemporal substitution. The paper characterizes the …The paper analyzes the discount rate under uncertainty. The analysis complements the probabilistic characterization of …
Persistent link: https://www.econbiz.de/10009646069
(intertemporal) risk neutrality reduces the growth effect in social discounting and significantly amplifies the importance of risk … respect to non-risk uncertainty. The paper derives the resulting changes of the risk-free and the stochastic social discount … extends the smooth ambiguity model by providing a threefold disentanglement between, risk aversion, ambiguity aversion, and …
Persistent link: https://www.econbiz.de/10009646074
uncertainty by a measure of confidence. Special cases of the model comprise discounting under smooth ambiguity aversion as well as … discounting under a disentanglement of risk aversion from aversion to intertemporal substitution. The paper characterizes the …The paper analyzes the discount rate under uncertainty. The analysis complements the probabilistic characterization of …
Persistent link: https://www.econbiz.de/10010676464
paper introduces aversion to non-risk uncertainty (ambiguity). Ishow a close formal similarity between the model of … ambiguity aversion. I merge the models, achieving a threefold disentanglement between, risk aversion, ambiguity aversion, and …Uncertainty has an almost negligible impact on project value in the standardeconomic model. I show that a comprehensive …
Persistent link: https://www.econbiz.de/10010676519
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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
robustness under risk aversion and ambiguity aversion. We aim to understand the potential consequences of deeply uncertain … relationship between the upstream sourcing decisions and the supply chain survival probability. Both risk-averse and ambiguity … chain-level preparedness to aggregate shocks. Augmenting a parsimonious supply chain model with uncertainty, we analyse the …
Persistent link: https://www.econbiz.de/10014520125