Pestizide ermöglichen der Landwirtschaft gesteigerte Erträge, sie bergen jedoch auch Risiken für die menschliche Gesundheit und die Umwelt. Um diese Risiken zu begrenzen, müssen sie in einem Risikobewertungsverfahren ihre Sicherheit nachweisen, bevor sie zugelassen werden können. Die...

Pesticides, while rendering immense agricultural benefits, potentially entail risks to human health and the environment. To limit these risks, market approval of a pesticide is typically conditional on an extensive risk assessment demonstrating its safety. The associated testing procedures,...

How should tort law deal with agents that employ novel and imperfectly understood technologies that later turn out to involve harm? There is no agreement among different legal systems whether strict liability or negligence rules should govern these so-called 'development risks'. The law-and-...

Background: his paper presents a case study on 100Credit, an Internet credit service provider in China. 100Credit began as an IT company specializing in e-commerce recommendation before getting into the credit rating business. The company makes use of Big Data on multiple aspects of...

An ambiguous statistical experiment is a set of joint probability distributions over states and signals. This note compares ambiguous experiments from the point of view of an ambiguity averse decision maker and extends the Blackwell (1951, 1953) ordering to this setting.

The well-known Blackwell's theorem states the equivalence of statistical informativeness and economic valuableness. Celen (2012) generalizes this theorem, which is well-known for subjective expected utility (SEU), to maxmin expected utility (MEU) preferences. We demonstrate that the underlying...