We argue that the uncertainty over the impact of macroprudential policy need not make a policymaker more cautious. Our … starting point is the classic result of Brainard (1967) which finds that uncertainty over the impact of a policy instrument … risk, potential asymmetries in policy objectives, the ability to learn from policy actions, and private sector uncertainty …

two treatments: (1) the search treatment in the context of SDM under uncertainty, where the decision makers are not …

valuation of allegedly guaranteed future outcomes. We show that future uncertainty conjointly with people's proneness to … nonlinear probability weighting generates a unifying framework for explaining many anomalies in intertemporal choice, such as … hyperbolic discounting and subadditivity of discount factors. Moreover, our approach implies that higher uncertainty of future …

-known success-probability criterion adapted to settings characterized by model uncertainty. We apply this decision criterion to … takes explicit account of model uncertainty. To this end, the value function we propose is an analogue of the well … probability distributions constructed by Drouet et al. (2015) linking carbon budgets to future consumption. The main result that …

The levels of uncertainty surrounding construction projects are particularly high and construction managers should be … aware that adequately managing the effects of the different types of uncertainty may lead to an increase in the overall … performance of construction companies. The model proposed focus on the impact that a specific type of uncertainty - volume …

are technology adoption or market entry. Firms either invest immediately or wait until market uncertainty is resolved. Two …

trading, we present a model in which informed and uninformed traders face uncertainty about the composition of traders … (composition uncertainty). We characterize the equilibrium in both the information and financial markets. Composition uncertainty … uncertainty …

oligopoly characterized by a homogeneous non-storable good, sticky prices and uncertainty. Our model nests the classical dynamic …-time limit of our model with no uncertainty and no risk-aversion. Focusing on the continuous-time limit of the infinite horizon … inversely related to the degrees of uncertainty and risk-aversion. However, the effect of uncertainty and risk …

uncertainty essentially considers all possible probability distributions associated with the random payoffs, and chooses the … based on a new formal model of decision under uncertainty, called naive uncertainty. The model consists of a set of … allocation that minimizes the variability of outcome across all probabilities. The optimal allocation under naive uncertainty is …

Most risk mitigation activities involve technological uncertainty (TU) because their effectiveness depends on exogenous …. Our theory has implications in various fields of application, which we demonstrate via selected topics in preventive …