Uncertainty refers to epistemic situations involving imperfect or unknown information. It applies to predictions of future events, to physical measurements that are already made, or to the unknown. Uncertainty arises in partially observable or stochastic environments, as well as due to ignorance, indolence, or both. It arises in any number of fields, including insurance, philosophy, physics, statistics, economics, finance, medicine, psychology, sociology, engineering, metrology, meteorology, ecology and information science.
The value of life is an economic value used to quantify the benefit of avoiding a fatality. It is also referred to as the cost of life, value of preventing a fatality (VPF), implied cost of averting a fatality (ICAF), and value of a statistical life (VSL). In social and political sciences, it is the marginal cost of death prevention in a certain class of circumstances. In many studies the value also includes the quality of life, the expected life time remaining, as well as the earning potential of a given person especially for an after-the-fact payment in a wrongful death claim lawsuit.
Research and development, known in Europe as research and technological development (RTD), is the set of innovative activities undertaken by corporations or governments in developing new services or products, and improving existing ones. Research and development constitutes the first stage of development of a potential new service or the production process.
Law and economics, or economic analysis of law, is the application of microeconomic theory to the analysis of law, which emerged primarily from scholars of the Chicago school of economics. Economic concepts are used to explain the effects of laws, to assess which legal rules are economically efficient, and to predict which legal rules will be promulgated. There are two major branches of law and economics; one based on the application of the methods and theories of neoclassical economics to the positive and normative analysis of the law, and a second branch which focuses on an institutional analysis of law and legal institutions, with a broader focus on economic, political, and social outcomes, and overlapping with analyses of the institutions of politics and governance.
Econometrica is a peer-reviewed academic journal of economics, publishing articles in many areas of economics, especially econometrics. It is published by Wiley-Blackwell on behalf of the Econometric Society. The current editor-in-chief is Guido Imbens.
The National Bureau of Economic Research (NBER) is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community". The NBER is known for providing start and end dates for recessions in the United States.
The Journal of the American Chemical Society is a weekly peer-reviewed scientific journal that was established in 1879 by the American Chemical Society. The journal has absorbed two other publications in its history, the Journal of Analytical and Applied Chemistry and the American Chemical Journal. It covers all fields of chemistry. Since 2021, the editor-in-chief is Erick M. Carreira. In 2014, the journal moved to a hybrid open access publishing model.
Lars Peter Hansen is an American economist. He is the David Rockefeller Distinguished Service Professor in Economics, Statistics, and the Booth School of Business, at the University of Chicago and a 2013 recipient of the Nobel Memorial Prize in Economics.
Ted Gayer is an American economist and the president of the Niskanen Center. He is formerly the executive vice president of the Brookings Institution, where he also once served as the vice president and director of the Economic Studies Program and the Joseph A. Pechman Senior Fellow. On June 12, 2022, Gayer was appointed acting president of the Brookings Institution following the resignation of John R. Allen that same day.
Alberto Francesco Alesina was an Italian political economist. Described as one of the leading political economists of his generation, he published many influential works in both the economics and political science research literature.
Richard Jay Zeckhauser is an American economist and the Frank P. Ramsey Professor of Political Economy at the Kennedy School of Government at Harvard University.
Environmental Values started as a quarterly peer-reviewed academic journal closely associated with the ecological economics movement, but also firmly based in applied ethics. Subjects covered are philosophy, economics, politics, sociology, geography, anthropology, ecology, and other disciplines, which relate to the present and future environment of human beings and other species. The journal was established in 1992 and edited by Alan Holland until 2007 when Clive L. Spash became editor-in-chief.
Andrew Wen-Chuan Lo is the Charles E. and Susan T. Harris Professor of Finance at the MIT Sloan School of Management. Lo is the author of many academic articles in finance and financial economics. He founded AlphaSimplex Group in 1999 and served as chairman and chief investment strategist until 2018 when he transitioned to his current role as chairman emeritus and senior advisor.
Stroke is a peer-reviewed medical journal published monthly by Lippincott Williams & Wilkins on behalf of the American Heart Association. It covers research on cerebral circulation and related diseases, including clinical research on assessment of risk for stroke, diagnosis, prevention, and treatment, as well as rehabilitation. All articles become open access after a 12-month embargo. The editor-in-chief was Ralph L. Sacco.
Precautionary saving is saving that occurs in response to uncertainty regarding future income. The precautionary motive to delay consumption and save in the current period rises due to the lack of completeness of insurance markets. Accordingly, individuals will not be able to insure against some bad state of the economy in the future. They anticipate that if this bad state is realized, they will earn lower income. To avoid adverse effects of future income fluctuations and retain a smooth path of consumption, they set aside a precautionary reserve, called precautionary savings, by consuming less in the current period, and resort to it in case the bad state is realized in the future.
William Viscusi is an American economist whose primary fields of research are the economics of risk and uncertainty, risk and environmental regulation, behavioral economics, and law and economics. Viscusi is the University Distinguished Professor of Law, Economics, and Management at Vanderbilt Law School where he and his wife, Joni Hersch, are the founders and co-directors of the Ph.D. Program in Law and Economics. Prior to his appointment at Vanderbilt, Viscusi was the first John F. Cogan, Jr. Professor of Law and Economics at Harvard Law School and Director of the Harvard Program on Empirical Legal Studies. Viscusi is the author of Pricing Lives: Guideposts for a Safer Society.
Behaviour is a double-blind peer-reviewed scientific journal covering all aspects of ethology. It is published by Brill Publishers and was established in 1948 by Niko Tinbergen and W.H. Thorpe. The editor-in-chief is Frans de Waal.
The ASCE-ASME Journal of Risk and Uncertainty in Engineering Systems is a peer-reviewed scientific journal established in 2014 by the American Society of Civil Engineers (ASCE) and the American Society of Mechanical Engineers (ASME). It disseminates research findings, best practices concerns, and discussions and debates on risk- and uncertainty-related issues in the areas of civil and mechanical engineering and related fields.
Sydney C. Ludvigson is an economist and the Julius Silver, Roslyn S. Silver, and Enid Silver Winslow Professor of Economics at New York University. Since 2017, she serves as chair of NYU's Economics Department.
Jessica Hullman is a computer scientist and the Ginni Rometty associate professor of Computer Science at Northwestern University. She is known for her research in Information visualization.
