Distributed product development, in which a firm's new product design happens in more than one geographic location, is becoming increasingly prevalent in a number of industries. While the cost savings from distributed development has received significant attention, some of the deeper...

Mortality is a stochastic process. We have imprecise knowledge about the probability distribution of mortality rates in the future. Mortality risk, therefore, can be defined in a broad term of ambiguity. In this paper, we investigate the effects of ambiguity and ambiguity aversion on prices of...