games, beauty contests, and their applications. We elaborate on the distinct effects of strategic uncertainty relative to … fundamental uncertainty. We demonstrate the potential fragility of workhorse macroeconomic models to relaxations of common …

games, beauty contests, and their applications. We elaborate on the distinct effects of strategic uncertainty relative to … fundamental uncertainty. We demonstrate the potential fragility of workhorse macroeconomic models to relaxations of common …

underestimates true economic cost. Valuation under uncertainty implies a risk premium or discount. Because the expenditure of … transaction cost reduces uncertainty, transaction cost and risk adjusted valuation are in dynamic tension. Under this approach … operating under uncertainty. Accordingly, this article rejects the normative axiom that litigation is inferior to settlement, a …

A notion of cognitive uncertainty is introduced as an agent's uncertainty about the validity of the results of his own … shown how cognitive uncertainty may prevent a group of well informed rational agents from playing backward induction in a … game of perfect information, whereas they would play backward induction without such uncertainty. …