Understanding decision making of households has always been a key challenge of economic research. Some of the most relevant household choices are financial decisions regarding savings since these insure household consumption ...
The recent "Great Recession" has thrown macroeconomic research into a state of disarray and has clearly shown the need to go beyond traditional business cycle explanations. However, many of the recently proposed business ...
We consider tangible economic problems for agents assessing risk by virtue of dynamic coherent and convex risk measures or, equivalently, utility in terms of dynamic multiple priors and dynamic variational preferences in ...