This paper analyzes sophisticated dynamic choice for ambiguity-sensitive decision makers. It characterizes Consistent Planning via axioms on preferences over decision trees. Furthermore, it shows how to elicit conditional preferences from prior preferences. The key axiom is a weakening of...

A major inconvenience of the traditional approach in portfolio choice, based upon historical information, is its inability to anticipate sudden changes of price tendencies. Introducing information about future behavior of the assets fundamentals may help to make more appropiate choices. However...

The aim of this paper is to develop rules for optimal reservoir operation and water withdrawal from river and aquifer considering water supply and pollution control targets. The general approach is making use of an integrated water quantity-quality management (IWQM) modeling in conjunction with...