This article provides empirical comparative statics under simultaneous price and output uncertainty. In so doing, it presents a simple (one-step) and general statistical methodology under price and output uncertainty.

This book introduces new theoretical foundations under uncertainty with applications (Nova Science Publishers Inc., NY, 2007).

When modeling output uncertainty, the multiplicative specification is consistently chosen over the additive form, despite the latter being arguably intuitively more obvious. The rationale for this seems to be that when production risk is the only source of uncertainty, additive uncertainty does...

This paper provides a methodology that allows estimation and comparative statics analysis in the presence of two correlated uncertainties: energy price uncertainty and manufacturing price uncertainty. In so doing, we show the impact of the correlation between oil price shocks and manufacturing...

Purpose – The purpose of this paper is to empirically test dominant theories and assumptions in behavioral finance, using data from the Standard & Poor's 500 index. Design/methodology/approach – The empirical analysis has three parts: to test the assumption of risk aversion; to examine the...

This book introduces new theoretical foundations under uncertainty with applications (Nova Science Publishers Inc., NY, 2007).

We simultaneously extend the models developed by Stewart, Paroush & Wolf, and Viaene & Zilcha. That is, allowing output to adjust and using a general utility, general distributions and a two-variable-input production function, we show the impact of the cost risk and increasing risk aversion on...