Hedging Ambiguity with Pro-Social Preferences: an Illustration from Green Finance
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We explore how pro-social preferences interact with asymmetric ambiguity to influence investment decisions. We develop a model where financial returns are ambiguous (e.g., due to policy uncertainties), while social impact returns are risky or less ambiguous. Employing Gilboa-Schmeidler maxmin and
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美国国家经济研究局创建时间：
2026-04-01
