This paper incorporates model ambiguity into the traditional hedge fund models to explore how ambiguity influences the manager's investment strategy, risk attitude and compensation structure. We find the manager is ambiguity aversion. Model ambiguity enhances her level of endogenous risk...

Achieving sustainability and coping with climate change are the greatest challenges to human survival and harmonious human-nature relationship. However, we lack research on quantifying the capacity of sustainability to resist climate change over space and time. Here, we developed a...

Internet users often neglect website privacy policies because of the “transparency paradox” – when the privacy policy languages are lengthy, complex, and granular in details, often requiring sophisticated comprehension. Nevertheless, it is worthwhile for us to identify the critical...