risk preferences. Here, we develop an analogous tool for choice under uncertainty – the ambiguity triangle – and show that … characterize this heterogeneity with finite-mixture estimates of a one-parameter extension of Expected Utility Theory wherein 48 …

We develop a theoretical framework to explain firms' offshoring decisions in the presence of uncertainty. This model …

technologies under uncertainty. Specifically, given two technologies, one with lower costs at present, but the other with greater … uncertainty in the returns to R&D, how should one allocate the R&D budget? We develop a multi-stage stochastic dynamic programming … variance in the uncertainty in returns to R&D and with the skewness of the uncertainty. We also present an illustrative case …

The paper examines the monetary-fiscal interactions in a monetary union model with uncertainty due to imperfect central … bank transparency. We first show that monetary uncertainty disciplines fiscal policymakers and thereby reduces taxes … uncertainty is mitigated. As a consequence, monetary union enlargement may lead to a more aggressive fiscal stance in some member …

derives max-min, max-max and min-max regret policies to deal with this particular form of climate (model) uncertainty and with …

Using firm and industry data, we establish two facts: (i) Uncertainty about demand conditions not only reduces export … regularities by developing a new firmbased trade model wherein managers are risk averse. Higher volatility induces the reallocation …

Tax uncertainty is often claimed to be harmful for investments. Capital taxes, such as property and wealth taxes, are … particularly exposed to tax uncertainty. Capital tax uncertainty emerges from expected tax reforms, the unclear outcome of future … stochastic taxation contribute to overall uncertainty and may significantly affect investment decisions. Hitherto, it is unknown …

We analyze a psychologically-based model of voter turnout in an election with common value and uncertainty. Our model …

We study the importance of uncertainty and public finance to the welfare ranking of three environmental policy … revenues finance public abatement. When the main source of uncertainty is economic, the most efficient recipe is to levy … pollution taxes and use the collected tax revenues to finance public abatement. However, when environmental uncertainty is the …

by the presence of uncertainty about the committee members' output objective. We show how this need for conservatism …