Decision making in times of Knightian uncertainty: An info-gap perspective
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Abstract
Suggested Citation
DOI: 10.5018/economics-ejournal.ja.2016-23
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- Ben-Haim, Yakov & Demertzis, Maria, 2015. "Decision making in times of Knightian uncertainty: An info-gap perspective," Economics Discussion Papers 2015-42, Kiel Institute for the World Economy (IfW Kiel).
References listed on IDEAS
- Yakov Ben-Haim & Maria Demertzis, 2008. "Confidence in Monetary Policy," DNB Working Papers 192, Netherlands Central Bank, Research Department.
- Christopher A. Sims, 2001. "Pitfalls of a Minimax Approach to Model Uncertainty," American Economic Review, American Economic Association, vol. 91(2), pages 51-54, May.
- Hildebrandt, Patrick & Knoke, Thomas, 2011. "Investment decisions under uncertainty--A methodological review on forest science studies," Forest Policy and Economics, Elsevier, vol. 13(1), pages 1-15, January.
- Herbert A. Simon, 1955. "A Behavioral Model of Rational Choice," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 69(1), pages 99-118.
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Cited by:
- Yakov Ben‐Haim & Jan Willem Van den End, 2022. "Assessing uncertainty in the natural rate of interest: Info‐gap as guide for monetary policy in the euro area," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(3), pages 3228-3245, July.
- Mashor Housh & Tomer Aharon, 2021. "Info-Gap Models for Optimal Multi-Year Management of Regional Water Resources Systems under Uncertainty," Sustainability, MDPI, vol. 13(6), pages 1-27, March.
- Ben-Haim, Yakov & Demertzis, Maria & Van den End, Jan Willem, 2018. "Evaluating monetary policy rules under fundamental uncertainty: An info-gap approach," Economic Modelling, Elsevier, vol. 73(C), pages 55-70.
- Yakov Ben-Haim & Maria Demertzis & Jan Willem van den End, 2017.
"Fundamental uncertainty and unconventional monetary policy- an info-gap approach,"
Working Papers
19317, Bruegel.
- Yakov Ben-Haim & Maria Demertzis & Jan Willem Van den End, 2017. "Fundamental uncertainty and unconventional monetary policy: an info-gap approach," DNB Working Papers 544, Netherlands Central Bank, Research Department.
- Shira Daskal & Adar Ben-Eliyahu & Gal Levy & Yakov Ben-Haim & Ronnen Avny, 2022. "Earthquake Vulnerability Reduction by Building a Robust Social-Emotional Preparedness Program," Sustainability, MDPI, vol. 14(10), pages 1-22, May.
- Drudi, Francesco & Moench, Emanuel & Holthausen, Cornelia & Weber, Pierre-François & Ferrucci, Gianluigi & Setzer, Ralph & Adao, Bernardino & Dées, Stéphane & Alogoskoufis, Spyros & Téllez, Mar Delgad, 2021. "Climate change and monetary policy in the euro area," Occasional Paper Series 271, European Central Bank.
- Yakov Ben-Haim & Jan Willem van den End, 2019. "Fundamental uncertainty about the natural rate of interest: Info-gap as guide for monetary policy," DNB Working Papers 650, Netherlands Central Bank, Research Department.
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More about this item
Keywords
uncertainty vs risk; confidence; robustness; satisficing; info-gap;All these keywords.
JEL classification:
- C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
- C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
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