Working Papers

The iRisk Working Paper Series intends to quickly disseminate the results of on-going research at iRisk. It covers topics on decision making under risk and uncertainty.

 

2021 iRisk Working Paper 2 / March 2021

Risk, ambiguity, and the value of diversification

by Loic BERGER & Louis EECKHOUDT

Topics: Diversification, ambiguity aversion, model uncertainty, hedging


2021 iRisk Working Paper 1 / March 2021

What is Partial Ambiguity?

by Loic BERGER

Topics: Ambiguity, model uncertainty, smooth ambiguity aversion, Ellsberg paradox


2020 iRisk Working Paper 2 / November 2020

Rational policymaking during a pandemic

by Loic BERGER, Nicolas BERGER, Valentina BOSETTI, Itzhak GILBOA, Lars Peter HANSEN, Christopher JARVIS, Massimo MARINACCI & Richard D. Smith

Topics: model uncertainty, ambiguity, robustness, decision rules


2020 iRisk Working Paper 1 / November 2020

Three layers of uncertainty and the role of model misspecification

by Ilke AYDOGAN, Loic BERGER, Valentina BOSETTI & Ning LIU

Topics: Ambiguity aversion, model uncertainty, model misspecification, non-expected
utility, reduction of compound lotteries