This paper provides a comprehensive survey of existing measures of uncertainty, risk, and
volatility, noting their conceptual distinctions. It summarizes how they are constructed, their …

We conduct a bibliometric analysis and review the literature of the last six decades on
ambiguity aversion. Comparing trends in theoretical, experimental, and empirical …

Measurements of ambiguity attitudes have so far focused on artificial events, where
(subjective) beliefs can be derived from symmetry of events and can be then controlled for …

We revisit the association between fundamentals and exchange rates in emerging markets
relying on the role of the Economic Policy Uncertainty (EPU) in explaining/forecasting …

We relate time-varying aggregate ambiguity about volatility (V-VSTOXX) to individual
investor trading. We use the trading records of more than 100,000 individual investors from a …

This study analyzes whether stocks of companies with environmental social governance
(ESG) rating show lower idiosyncratic risk. The main analysis covers 898,757 company …

Stocks with high uncertainty about risk, as measured by the volatility of expected volatility
(vol-of-vol), robustly underperform stocks with low uncertainty about risk by 8% per year …

Uncertainty over future business conditions lies at the heart of firm decision-making.
Uncertainty can arise from a myriad of sources and is difficult to measure. We present a …

This paper shows that strong ESG taste leads to higher tail risk in high-ESG (green) stocks
compared to low-ESG (brown) stocks during market crashes. In crash episodes, strong ESG …

Rationally justifying Bitcoin's immense price fluctuations has remained a persistent
challenge for both investors and researchers in this field. A primary reason is our potential …