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The Ambiguity Triangle : Uncovering Fundamental Patterns of Behavior Under Uncertainty

Burghart, Daniel - 2015

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 …

Persistent link: https://www.econbiz.de/10013016343

Interest Rate Hysteresis in Macroeconomic Investment Under Uncertainty

Belke, Ansgar Hubertus - 2019

The interest rate is generally considered as an important driver of macroeconomic investment. As an innovation, this paper derives the exact shape of the "hysteretic" impact of changes in the interest rate on macroeconomic investment under the scenarios of both certainty and uncertainty. We...

Persistent link: https://www.econbiz.de/10012863765

Dynamic Incentive Contracts Under Parameter Uncertainty

Prat, Julien - 2010

We analyze a long-term contracting problem involving common uncertainty about a parameter capturing the productivity of the relationship, and featuring a hidden action for the agent. We develop an approach that works for any utility function when the parameter and noise are normally distributed...

Persistent link: https://www.econbiz.de/10013135822

The "Bomb" Risk Elicitation Task

Crosetto, Paolo - 2012

This paper presents the Bomb Risk Elicitation Task (BRET), an intuitive procedure aimed at measuring risk attitudes … truncation of the data, allows to precisely estimate both risk aversion and risk seeking, and is not affected by the degree of … gap that often characterizes choices under uncertainty by means of a higher loss rather than risk aversion …

Persistent link: https://www.econbiz.de/10013103490

Investment and Subjective Uncertainty

Bloom, Nicholas; Davis, Steven J.; Foster, Lucia; … - 2022

A longstanding challenge in evaluating the impact of uncertainty on investment is obtaining measures of managers' subjective uncertainty. We address this challenge by using a detailed new survey measure of subjective uncertainty collected by the U.S. Census Bureau for approximately 25,000...

Persistent link: https://www.econbiz.de/10014240723

How Uncertainty and Ambiguity in Tournaments Affect Gender Differences in Competitive Behavior

Balafoutas, Loukas - 2019

Tournament incentives prevail in labor markets. Yet, the number of tournament winners is often unclear to competitors. While it is hard to measure how this uncertainty affects work performance and willingness to compete in the field, it can be studied in a controlled lab experiment. We present a...

Persistent link: https://www.econbiz.de/10012868836

The Effect of Macroeconomic Uncertainty on Firm Decisions

Kumar, Saten; Gorodnichenko, Yuriy; Coibion, Olivier - 2022

Using a new survey of firms in New Zealand, we document how exogenous variation in the macroeconomic uncertainty perceived by firms affects their economic decisions. We use randomized information treatments that provide different types of information about the first and/or second moments of...

Persistent link: https://www.econbiz.de/10013403719

Pandemic-Era Uncertainty

Meyer, Brent; Mihaylov, Emil; Barrero, Jose Maria; … - 2022

national security as of March 2022. Fourth, firm-level risk perceptions skewed heavily to the downside in spring 2020 but …

Persistent link: https://www.econbiz.de/10013406440

How Does the Economic Uncertainty Affect Asset Prices Under Normal and Financial Distress Times?

Balcilar, Mehmet; Ozdemir, Zeynel Abidin; Ozdemir, Huseyin - 2022

By using a nonlinear VAR model, we investigate whether the response of the US stock and housing markets to uncertainty shocks depends on financial conditions. Our model allows us to change the response of the US financial markets to volatility shocks in periods of normal and financial distress....

Persistent link: https://www.econbiz.de/10013406435

Trade and Migration with Renewable Natural Resources : Out-of-Steady-State Dynamics

López, Ramón - 2010

Commodity price increases associated with the entry of China, India and other countries into the world economy has led to increased pressure on common-property renewable natural resources (NR). The problem is particularly worrisome for economies that obtain a large share of their income from the...

Persistent link: https://www.econbiz.de/10013143683