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Uncertain World (uncertain + world)
Selected AbstractsHOMEOWNERSHIP IN AN UNCERTAIN WORLD WITH SUBSTANTIAL TRANSACTION COSTS,JOURNAL OF REGIONAL SCIENCE, Issue 5 2007Margaret H. Smith ABSTRACT This paper presents a dynamic model of residential real estate tenure decisions that takes into account the substantial transaction costs and the uncertain time paths of rents and prices. By temporarily postponing decisions, buyers and sellers obtain additional information and may avoid transactions that are costly to reverse. One implication is that the combination of high transaction costs and substantial uncertainty can create a large wedge between a household's reservation prices for buying and selling a home, which can explain why households do not switch back and forth between owning and renting as home prices fluctuate. [source] The Skeptical, Passionate Christian: Tools for Living Faithfully in an Uncertain World , By Michael F. DuffyRELIGIOUS STUDIES REVIEW, Issue 1 2007David H. Jensen No abstract is available for this article. [source] Does conservation planning matter in a dynamic and uncertain world?ECOLOGY LETTERS, Issue 8 2004Eli Meir Abstract Loss of biodiversity is one of the world's overriding environmental challenges. Reducing those losses by creating reserve networks is a cornerstone of global conservation and resource management. Historically, assembly of reserve networks has been ad hoc, but recently the focus has shifted to identifying optimal reserve networks. We show that while comprehensive reserve network design is best when the entire network can be implemented immediately, when conservation investments must be staged over years, such solutions actually may be sub-optimal in the context of biodiversity loss and uncertainty. Simple decision rules, such as protecting the available site with the highest irreplaceability or with the highest species richness, may be more effective when implementation occurs over many years. [source] Searching for certainty in an uncertain world: the difficulty of giving up the experiential for the rational mode of thinkingJOURNAL OF BEHAVIORAL DECISION MAKING, Issue 2 2003Yaacov Schul Abstract Our research explores predictions that people make in a simple environment consisting of sequences of a binary signal followed by two possible outcomes. In order to optimize their prediction success, respondents should use a very simple decision rule, called maximization, whereby they consistently predict according to the signal. In line with past research, our findings show that even respondents who realized after the experiment that maximization is optimal failed to use it during the experiment itself. We discuss conditions that weaken or reinforce behaving according to the optimal rule in a repeated choice situation. Experiment 1 shows that individuals who are forced to plan their strategy and justify their actions are more likely to discover and use the optimal rule than those not forced to do so. Thinking about the appropriateness of one's performance can be done in two different orientations: focusing on the past (justifying past actions) or on the future (planning future action). Experiment 2 shows that planning induces rule-base thinking, while justifying fails to do so. These findings are discussed within a theoretical framework which suggest an interplay between the experiential and the rational modes of processing. Copyright © 2003 John Wiley & Sons, Ltd. [source] | ||||||||||