In this paper, we study an irreversible investment problem under Knightian uncertainty. In a general framework, in … which Knightian uncertainty is modeled through a set of multiple priors, we prove existence and uniqueness of the optimal … investment plan, and derive necessary and sufficient conditions for optimality. This allows us to construct the optimal policy in …

climate conditions, geographical isolation and rich natural resources reserves. Northern investment risks in human capital … formation are proposed in the paper, as an indicator of investment conditions, which can be employed to improve policy of human … development in the northern regions of Russia. Northern investment risks encompass uncertainties associated with extreme northern …

investment dynamics. By doing so, we compare five prominent uncertainty proxies put forward in the recent literature: the … type of uncertainty proxy, we document pronounced negative investment responses to uncertainty shocks. We further show that …Investment fell sharply in the euro area after the financial crisis and has not yet returned to pre-crisis levels in …

A longstanding challenge in evaluating the impact of uncertainty on investment is obtaining measures of managers … associated with about a 6% reduction in investment. Second, uncertainty is also negatively related to employment growth and …' subjective uncertainty. We address this challenge by using a detailed new survey measure of subjective uncertainty collected by …

A longstanding challenge in evaluating the impact of uncertainty on investment is obtaining measures of managers … associated with about a 6% reduction in investment. Second, uncertainty is also negatively related to employment growth and …’ subjective uncertainty. We address this challenge by using a detailed new survey measure of subjective uncertainty collected by …

Most risk mitigation activities involve technological uncertainty (TU) because their effectiveness depends on exogenous …

's production technology which, however, may not reflect optimality conditions that banks seek to satisfy under uncertainty. The ex … estimate banks' production technology based on the ex-ante cost function. We model credit uncertainty explicitly by recognizing …