Results 41 to 50 of about 506 (164)
Daniel Ellsberg on J.M. Keynes and F.H. Knight : Risk, Ambiguity and Uncertainty [PDF]
, 2018 Technical ReportThis paper aims to focus on the life and work of Daniel Ellsberg, with an intensive discussion on its relation to J.M. Keynes and F.H. Knight, the two great pioneers of the economics of uncertainty. Ellsberg seems to be a man in paradox.
Sakai, Yasuhiro
core
Taking Risks, With and Without Probabilities
Noûs, EarlyView.ABSTRACT Some hold that expected utility is too restrictive in the way it handles risk. Risk‐weighted expected utility is an alternative that allows decision‐makers to have a range of attitudes toward probabilistic risk. It holds that any attitude within this range is instrumentally rational, since these attitudes represent different, equally good ...
Lara Buchak
wiley +1 more source
Economica, Volume 93, Issue 371, Page 839-862, July 2026.Abstract The foundational nature of expectations‐based theories and the prominence of symmetric unimodal stochastic assumptions in economic research render the expected outcome the go to locational focus throughout its many realms. When symmetric unimodality prevails, expected and most likely outcomes are identical; however, when it does not, they are ...
Gordon Anderson
wiley +1 more source
, 2020 Understanding of the Ellsberg Paradox did not predict behavioral change in ambiguity attitude: for (A) Active Calculation intervention and (B) Non-active Calculation intervention.
Laurie R. Santos (8532054) +4 more
core +1 more source
Modified Standard Risk Assessment Based on Optimal Capacity Investment Decisions and Portfolio Optimization (Infrastructure Speculation and New Financial Instrument) [PDF]
تحقیقات مالی اسلامی (پیوسته), 2013 In order to use an Islamic financial instrument, this paper intends to measure and evaluate negative and positive deviations from target rate of return in investment opportunity evaluation,that leads to presenting an upside potential- adjusted risk ...
Fereidoun Rahnamay Roudposhti +1 more
doaj
Models in Decision‐Making Under Risk and Uncertainty
Journal of Economic Surveys, Volume 40, Issue 1, Page 304-320, February 2026.ABSTRACT This paper systematically compares dominant frameworks for modeling decision‐making under risk and uncertainty, evaluating their theoretical trade‐offs and practical relevance for economic research. We establish key criteria for model selection—including predictive accuracy, descriptive realism, computational tractability, and ecological ...
Martin Höppner
wiley +1 more source
Asymmetric Priors in Agency Under Maximum‐Entropy
The Manchester School, Volume 94, Issue 1, Page 116-124, January 2026.ABSTRACT This article analyzes the agency relationship in a setting where principal and agent have asymmetric priors on output. These differing priors stem from distinct information sets regarding the (unknown) output distribution, being assumed that both principal and agent rely on the maximum‐entropy principle to estimate the respective distributions.
Óscar Gutiérrez
wiley +1 more source
Uncertainty in Household Behavior Drives Large Variation in the Size of the Levee Effect
Journal of Flood Risk Management, Volume 18, Issue 4, December 2025.ABSTRACT Coastal cities face increasing flood hazards due to climate change. Physical infrastructures, such as levees, are commonly used to reduce flood hazards. To effectively manage flood risks, it is important to understand the degree to which physical infrastructures change both hazard and exposure.
Parin Bhaduri +7 more
wiley +1 more source
, 2022 Supplemental material, sj-docx-1-jbd-10.1177_01650254221104056 for Development of ambiguity aversion from early adolescence to adulthood: New insights from the Ellsberg paradox by Anaïs Osmont and Mathieu Cassotti in International Journal of Behavioral ...
Mathieu Cassotti (315804) +1 more
core +1 more source
Anticomonotonicity for preference axioms: The natural counterpart to comonotonicity
Theoretical Economics, Volume 20, Issue 3, Page 831-855, July 2025.Comonotonicity (same variation) of random variables minimizes hedging possibilities and has been widely used, e.g., in Gilboa and Schmeidler's ambiguity models. This paper investigates anticomonotonicity (opposite variation (AC)), the natural counterpart to comonotonicity. It minimizes leveraging rather than hedging possibilities.
Giulio Principi +2 more
wiley +1 more source