Showing 1 - 10 of 61
In this paper we perform a meta-analysis on empirical estimates of the impact between investment and uncertainty. Since … can explain to a large extent why empirical estimates of the investment-uncertainty relationship differ. … investment research. For example, not including factor prices in investment models may seriously affect the model outco! mes …
Persistent link: https://www.econbiz.de/10005137096
This paper analyses the effect of uncertainty on investment spending. We analyse two types of investment, i ….e. aggregate investment and investment in energy saving technologies, using subjective evaluations of expectations and uncertainty … of general investment spending. Furthermore, expectations and uncertainty have important although different effects on …
Persistent link: https://www.econbiz.de/10005450775
their risk aversion parameter invest less in risky assets than wealthy investors with identical risk aversion uncertainty. …
Persistent link: https://www.econbiz.de/10008752910
countries. An overall evaluation requires that attention is given to the perception and endogeneity of uncertainty …, irreversibility, the availability of alternatives, and a comparison with other complex issues. Some implications for an effective …
Persistent link: https://www.econbiz.de/10005209509
variable is the particular decision stage at which a global risk is resolved: (i) before the investment decision; (ii) after … the investment decision, but before the resolution of the decision risk; (iii) after the resolution of the decision risk …
Persistent link: https://www.econbiz.de/10005042230
Recent advances in evolutionary theory have important implications for environmental economics. A short overview is offered of evolutionarythinking in economics. Subsequently, major concepts and approaches inevolutionary biology and evolutionary economics are presented andcompared. Attention is...
Persistent link: https://www.econbiz.de/10005450802
This paper formalizes the idea that more hedging instruments may destabilize markets when traders are heterogeneous and adapt their behavior according to experience based reinforcement learning. We investigate three different economic settings, a simple mean-variance asset pricing model, a...
Persistent link: https://www.econbiz.de/10005795568
investment decisions upon market forecasting heuristics. Prices and beliefs about future prices co-evolve over time with mutual …
Persistent link: https://www.econbiz.de/10005795577
In this paper we consider regression models with forecast feedback. Agents' expectations are formed via the recursive estimation of the parameters in an auxiliary model. The learning scheme employed by the agents belongs to the class of stochastic approximation algorithms whose gain sequence is...
Persistent link: https://www.econbiz.de/10008484069
This paper surveys work on dynamic heterogeneous agent models (HAMs) in economics and finance. Emphasis is given to simple models that, at least to some extent, are tractable by analytic methods in combination with computational tools. Most of these models are behavioral models with boundedly...
Persistent link: https://www.econbiz.de/10005136868