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Barlevy, Gadi - 2010

This paper considers the design of macroeconomic policies in the face of uncertainty. In recent years, several economists have advocated that when policymakers are uncertain about the environment they face and find it difficult to assign precise probabilities to the alternative scenarios that...

Persistent link: https://www.econbiz.de/10010292205

Robust Bayesian analysis for econometrics

Giacomini, Raffaella; Kitagawa, Toru; Read, Matthew - 2021

decision-making under ambiguity. We discuss the methods proposed in the literature, including the different ways of …

Persistent link: https://www.econbiz.de/10012888645

The Evolutionary Stability of Optimism, Pessimism, and Complete Ignorance

Schipper, Burkhard - 2019

We seek an evolutionary explanation for why in some situations humans maintain either optimistic or pessimistic attitudes towards uncertainty and are ignorant to relevant aspects of their environment. Players in strategic games face Knightian uncertainty about opponents' actions and maximize...

Persistent link: https://www.econbiz.de/10012655881

Foundations of ambiguity models under symmetry: α-MEU and smooth ambiguity

Klibanoff, Peter; Mukerji, Sujoy; Seo, Kyoungwon; … - 2021

The α-MEU model and the smooth ambiguity model are two popular models in decision making under ambiguity. However, the …

Persistent link: https://www.econbiz.de/10012670885

Ordering ambiguous acts

Jewitt, Ian; Mukerji, Sujoy - 2017

ambiguity averse relation. First, we define two notions of more ambiguous with respect to such a class. A more ambiguous (I) act … makes an ambiguity averse decision maker (DM) worse off but does not affect the welfare of an ambiguity neutral DM. A more … ambiguous (II) act adversely affects a more ambiguity averse DM more, as measured by the compensation they require to switch …

Persistent link: https://www.econbiz.de/10011927995

Symmetry axioms and perceived ambiguity

Klibanoff, Peter; Mukerji, Sujoy; Seo, Kyoungwon - 2017

between the set of relevant measures, shown by KMS [21] to reflect only perceived ambiguity, and the set of measures (which we … perceived ambiguity. Regarding symmetry assumptions, we show that, under relatively mild conditions, a variety of preference … stringent. Only when it is satisfied may the Bewley set be interpreted as reflecting only perceived ambiguity and not also taste …

Persistent link: https://www.econbiz.de/10011927996

The innovation process: an introduction to process models

Verworn, Birgit; Herstatt, Cornelius - 2002

In research as well as in practice, process models are an expatiated element of innovation management. They fulfill different tasks. In practice, for instance, process models are used as a management tool to standardize development activities. Researchers try to identify activities to be found...

Persistent link: https://www.econbiz.de/10010308073

"Fuzzy front end" practices in innovating Japanese companies

Herstatt, Cornelius; Verworn, Birgit; Stockstrom, Christoph - 2004

In this paper, we report on the results of a large-scale study about typical front-end-related innovation practices in 553 Japanese mechanical and electrical engineering companies. We explore typical activities concerning the generation and assessment of new product ideas, the reduction of...

Persistent link: https://www.econbiz.de/10010308084

Approaches to the "fuzzy front end" of innovation

Verworn, Birgit; Herstatt, Cornelius - 1999

In new product development (NPD) unacceptably high failure rates have often been related to insufficiencies during the early development phases. Nevertheless, only little effort is devoted to the early phases, in theory as well as in practice, and managers often indicate the front end as being...

Persistent link: https://www.econbiz.de/10010308087

NPD-Process and Planning in Japanese engineering companies: Findings from an interview research

Herstatt, Cornelius; Stockstrom, Christoph; Nagahira, Akio - 2005

In this paper we report on the results of an interview research about new product development (NPD) processes and planning in 15 Japanese mechanical and electrical engineering companies. We asked the companies to describe one successful and one less successful project. All in all, we collected...

Persistent link: https://www.econbiz.de/10010308090