The usual analysis of bidding in first-price auctions assumes that bidders know the distribution of valuations. We … analyze first-price auctions in which bidders do not know the precise distribution of their competitors' valuations, but only …

Bidding in first-price auctions crucially depends on the beliefs of the bidders about their competitors' willingness to … uncertainty a bidder will expect to face the distribution of valuations that minimizes her expected utility, given her bid is an …

This experimental study, first, compares the individual valuations of two risk reduction mechanisms: self-insurance and … valuations when loss amounts are known. results confirm that there exists no "framing effect" due to the two risk reduction …

contributions. This paper presents experimental results illustrating that the effects of risk and uncertainty depend on the employed … efficiency gains, the presence of risk and uncertainty about the public good's value is not detrimental to cooperation. This … ?nding casts doubt on the hypothesis that risk and uncertainty, per se, weaken people's willingness to contribute. …

Following the real option literature, whether or not uncertainty shocks drive business cycles depends on the degree of … adjustment frictions. The more plants freeze and remain inactive in response to increased uncertainty, the stronger the adverse … in uncertainty reduces hiring, quits and job creation, while it raises layoffs and job destruction. Our finding suggests …

The decision how to share resources with others often needs to be taken under uncertainty on its allocational … consequences. Although risk preferences are likely important, existing research is silent about how social and risk preferences … not exposed to risk while beneficiaries’ final earnings may be larger or smaller than the allocation itself, depending on …

major choice, with which we estimate the relative importance of earnings and earnings uncertainty on the choice of college …

risk management in the agri-food sector. First, it specifies the diverse types of agri-food risks (natural, technical …, behavioral, economic, policy, etc.) and the modes of their management (market, private, public, and hybrid). Second, it defines … the efficiency of risk management and identifies the factors (personal, institutional, dimensional, technological, and …