How does risk or uncertainty in the productivity of research affect the growth rate of the economy? To answer this question, a model of endogenous technological change is used where sustained growth stems from intentional investments in R&D from profit-maximizing firms. The uncertainty arises...

The analysis in this paper shows that unpredictable variations in economic productivity may have a positive or negative effect on the average growth rate of output. This theoretical ambiguity result is not solely determined by the value of the elasticity of intertemporal substitution (of...

In this paper we study the risk perception of traffic participants. Firstly, we give an overviewof previously used methodologies for the monetary valuation of transport safety. Thesemethodologies do not distinguish between the individual's assessment of probabilities and hervaluation of possible...