Decision-making about economy-environment systems is often characterized by deep uncertainties. We provide an axiomatic foundation of preferences over lotteries with known payoffs over known states of nature and unknown probabilities of these outcomes (“Knightian uncertainty"). We elaborate...

This paper reviews a class of multifractal models obtained via products of exponential Ornstein-Uhlenbeck processes driven by L«evy motion. Given a self-decomposable distribution, conditions for constructiong multifractal scenarios and general formulas for their Renyi functions are provided....

This paper reviews a class of multifractal models obtained via products of exponential Ornstein–Uhlenbeck processes driven by Lévy motion. Given a self-decomposable distribution, conditions for constructing multifractal scenarios and general formulas for their Renyi functions are provided....