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I investigate the decision problem of a player in a game of incomplete information who faces uncertainty about the … uncertainty. A bidder following this decision criterion in a first-price auction expects all other bidders to bid their highest …
Persistent link: https://www.econbiz.de/10012895797
This study identifies a severe gap between the financial backlash borrowers believe awaits them after strategic mortgage default and the reality that lenders rarely pursue deficiency judgments. This, coupled with the social norm finding that borrowers widely view strategic default as immoral,...
Persistent link: https://www.econbiz.de/10013051040
robustness guarantees in meeting constraints under uncertainty. Additionally, our model departs from the literature by … and the uncertainty are related. To solve the model, we introduce the technique of pipeline invariance, which yields an …
Persistent link: https://www.econbiz.de/10013217541
The yield of enterprise can be accretion by integrating systems to business partners to create highest competitive … advantage in the time of run. System integration can be done by adopting the e-commerce technology and Business-to-Business …
Persistent link: https://www.econbiz.de/10008511888
of risk, both being associated to the stresses supported by the socio-economic system. We propose instruments for … resilience build-up and management based on a novel classification of risk and resilience management regimes corresponding to the … system's degree of uncertainty/predictability and stress level within it. Four main quadrants are identified: Ad hoc …
Persistent link: https://www.econbiz.de/10011516605
A hypothesis of uncertain future was created and first applied in the field of utility and prospect theories. An extension of application of the hypothesis to the field of forecasting is considered in the article. The concept of inevitability of unforeseen events is a part of the hypothesis of...
Persistent link: https://www.econbiz.de/10012057407
What costs is it worth incurring to avoid the risk of climate change? People rarely think of this as a question … date at which the climate change will occur, and (4) the rate at which we discount future benefits and costs relative to … are (1) the probability distribution of the effects of climate change, (2) the degree to which we are risk averse, (3) the …
Persistent link: https://www.econbiz.de/10005478458
Ever since the emergence of economics as a distinct scientific discipline, policy makers have turned to economic models to guide policy interventions. If policy makers seek to enhance growth of an open capitalist economy, they have to take into account, firstly, the uncertainties,...
Persistent link: https://www.econbiz.de/10011422415
Ever since the emergence of economics as a distinct scientific discipline, policy makers have turned to economic models to guide policy interventions. If policy makers seek to enhance growth of an open capitalist economy, they have to take into account, firstly, the uncertainties,...
Persistent link: https://www.econbiz.de/10011281255
-form expressions of welfare loss from shocks and epistemological uncertainty identify the interaction of (intertemporal) risk attitude … is comparable to numeric models used in policy advising. Uncertainty surrounding climate change remains large. The closed …, distributional moments, and the climatic shadow values. Welfare gains from reducing uncertainty about temperature feedbacks are much …
Persistent link: https://www.econbiz.de/10011305430