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 …

We analyze security-bid auctions in which two risk-neutral sellers compete for risk-averse bidders. Sellers face a … risk-averse, all equilibria are symmetric. Meanwhile, when they are heterogeneously risk-averse, there is always an … equilibrium in which one seller chooses a steeper family to serve the more-risk-averse bidders, while the other chooses a flatter …

choice between risky and ambiguous Ellsberg urns, we let them choose between a safe option and a risky lottery, whose risk is …, subjects can reduce or even eliminate the ambiguity and turn the decision situation into one of risk. Under the assumption that … request more information. Moreover, we investigate whether the relation between attitudes towards risk and ambiguity is linked …

-form expressions of welfare loss from shocks and epistemological uncertainty identify the interaction of (intertemporal) risk attitude … is comparable to numeric models used in policy advising. Uncertainty surrounding climate change remains large. The closed …, distributional moments, and the climatic shadow values. Welfare gains from reducing uncertainty about temperature feedbacks are much …

they know more about, even when their beliefs are held constant. (They are averse to "ambiguity", or uncertainty about …

. We compare the optimal output levels of regret-averse firms with purely risk- averse firms under uncertainty and firms …Previous studies focused on the comparison of the optimal output levels of regret- averse firms under uncertainty and … under certainty. We first show that the linear-regret firms will surely produce more than their purely risk …

an increase in ambiguity is associated with increased investor activity. It also leads to a reduction in risk … survey-, newspaper- or market-based ambiguity measures. …

intergenerational inequality aversion and for risk aversion. If growth increases (reduces) intra-generational inequality, the SDR is …