Ambiguity, Transparency, and Institutional Strength

Ambiguity, Transparency, and Institutional Strength
Institutional transparency makes future contingencies more easily predictable for investors. Greater transparency can be achieved through vertical and horizontal integration of policy rules, which may result in lower Knightian uncertainty (ambiguity). In a model based on cumulative prospect theory, for a given probability and payoff structure,... READ MORE...

Publication date: July 2004
ISBN 9781451853896
$15.00

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