Economic uncertainty has to do with the consequences of actions under different circumstances. This raises two … lose gains from specialization. Need for robustness comes from our limited knowledge. Rational dealing with uncertainty … terms, under such an approach acting under uncertainty is related to guidelines for strategic thinking: Focus on priorities …

their risk aversion parameter invest less in risky assets than wealthy investors with identical risk aversion uncertainty. …

In situations of what we now describe as radical uncertainty, the core model of agent behaviour, of rational autonomous … that in situations where radical uncertainty is present, we require theoretical "null" models of agent behaviour which are … different from those of economic rationality. Under uncertainty, fundamentally different behavioural rules are "rational". The …

uncertainty. We consider the prospect theory for the firm's utility function in the two moment model known as (mu … theory, mean-variance model, price uncertainty …Within the prospect theory the paper examines production and hedging decisions of a competitive firm under price …

. -- Prospect theory ; mean-variance model ; indifference curve ; price uncertainty ; hedging …The prospect theory is one of the most popular decision-making theories. It is based on the S-shaped utility function …, unlike the von Neumann and Morgenstern (NM) theory, which is based on the concave utility function. The S-shape brings in …

uncertainty about abatement costs and environmental damages. Such a ‘Rules Treaty’ comprises a scaling factor and a refunding rule …

static hedging strategy is sufficient. -- risk management ; hedging ; forwards ; uncertainty of time …

a priori unknown to subjects. By acquiring information about the probability distribution of the lottery’s payoff s …

fundamentalists and chartists co-exist and are subject to regret and uncertainty. We find significant evidence that energy markets are … composed by heterogeneous traders which behave differently depending on the intensity of the price fluctuations and uncertainty … ; Uncertainty Aversion ; Regret …

theory under uncertainty, we show that abatement is decreasing in the probability of success of SRM, but that this relation … evaluates the role of Solar Radiation Management (SRM) on the optimal abatement path, focusing on the uncertainty about the … robust for a wide range of parameters specification. -- Geoengineering ; Mitigation ; Climate Policy ; Uncertainty …