Modeling Uncertainty as Ambiguity: a Review
收藏NBER2022-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w29915
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资源简介：
We survey literature on ambiguity with an emphasis on recent applications in macroeconomics and finance. Like risk, ambiguity leads to cautious behavior and uncertainty premia in asset markets. Unlike risk, ambiguity can generate first order welfare losses. As a result, precautionary behavior and
提供机构：
美国国家经济研究局
创建时间：
2022-04-01
