Economic Uncertainty

Numerical modeling of economic uncertainty

Representation and modeling of economic uncertainty is addressed by different modeling methods, namely stochastic variables and probabilities, interval analysis, and fuzzy numbers, in particular triple estimates. Fo-cusing on discounted cash flow analysis numerical results are presented, comparisons are made between alter-native modeling methods, and characteristics of the methods are discussed.

Uncertainty in Economic Analysis and the Economic Analysis of Uncertainty∗

Economic Rationality under Uncertainty

Though uncertainty pervades all aspects of life and human action, it has a rather short history in economics. Surprisingly, Daniel Bernoulli’s (1738) notion of expected utility, which suggests that (in games of chance) monetary risky ventures ought to be evaluated by the sum of utilities of outcomes weighted by the corresponding probabilities, was not immediately used in economic theory. Indeed...

Economic Uncertainty and Corruption:

Substantial research has considered numerous causes and correlates of corruption. Also, there have been many studies of the consequences of various forms of uncertainty. However, exploration of the nexus between economic uncertainty and corruption appears scarce. After providing a simple intuitive and heuristic linkage between general economic uncertainty and corruption, this paper uses a large...

Uncertainty in economic evaluation studies.

As we could see in the previous articles of the economic evaluation series, there is a large set of information required for decision makers on health expenditures and outcomes, and the way they spread over time. In order to obtain this information, epidemiological, economic, mathematical and statistical methods are used, but they all have limitations which are inherent to any scientific method...