market set -up that accounts for fundamental uncertainty. Nonetheless, the market is designed so that its total value is …

Uncertainty shapes the trajectory of business cycles and remains a central research topic in Macroeconomics. When … studying the impact of uncertainty on the economy, economists use different uncertainty measures. While all indicators … approximate uncertainty along some certain dimension, none of the indicators directly captures Knightian Uncertainty. According to …

This paper investigates the effects of uncertainty on the macro economy by replicating its micro effects on individual … the two scenarios through the empirical macroeconomic uncertainty index. The higher the macroeconomic uncertainty is, the … appropriate level of ambiguity aversion outperforms the benchmark model with no uncertainty in fitting the US output growth rate …

find a quarter of students violated the order. Yet, neither risk preference, altruism, nor preexisting health conditions …

. We present a laboratory experiment that studies how residual risk of failure affects willingness to contribute to climate … risk than in treatments without one. We interpret this as an outcome of a psychological process where residual risk puts …

the literature on wage effects we add a breakdown of variances in heterogeneity and risk. …

We consider dynamic team production in the presence of uncertainty. Team members receive interim feedback that depends …

. Hence, both Alice and the uninformed expert face uncertainty: they do not know the payoff-relevant probability. Alice offers … analysis of contracts under risk, where separation is often feasible. …

significantly influence consumption dynamics. Our estimates of the indexes of relative risk aversion and relative prudence, as well …