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This paper is concerned with a simulation study for a stochastic production network model, where the capacities of machines may change randomly. We introduce performance measures motivated by risk measures from finance leading to a…
The paper examines financial management challenges faced by organizations operating under remote and hybrid work models. It investigates how these flexible arrangements influence budgeting, reporting, and financial transparency in…
We study the distributional implications of uncertainty shocks by developing a model that links macroeconomic aggregates to the US distribution of earnings and consumption. We find that: initially, the fraction of low-earning workers…
The integration and innovation of finance and technology have gradually transformed the financial system into a complex one. Analyses of the causesd of abnormal fluctuations in the financial market to extract early warning indicators…
Organizations around the world schedule jobs (programs) regularly to perform various tasks dictated by their end users. With the major movement towards using a cloud computing infrastructure, our organization follows a hybrid approach with…
Scheduling in the factory setting is compounded by computational complexity and temporal uncertainty. Together, these two factors guarantee that the process of constructing an optimal schedule will be costly and the chances of executing…
Uncertainty defines our age: it shapes climate, finance, technology, and society, yet remains profoundly misunderstood. We oscillate between the illusion of control and the paralysis of fatalism. This paper reframes uncertainty not as…
Models necessarily capture only parts of a reality. Prediction models aim at capturing a future reality. In this paper we address the question of how the future is constructed (or: imagined) in an investment context where market…
This paper constructs internationally consistent measures of macroeconomic uncertainty. Our econometric framework extracts uncertainty from revisions in data obtained from standardized national accounts. Applying our model to post-WWII…
This paper studies the income fluctuation problem with capital income risk (i.e., dispersion in the rate of return to wealth). Wealth returns and labor earnings are allowed to be serially correlated and mutually dependent. Rewards can be…
Despite the plethora of financial services and products on the market nowadays, there is a lack of such services and products designed especially for the low-wage population. Approximately 30% of the U.S. working population engage in…
The objective of this work is the investigation of complexity, asymmetry, stochasticity and non-linearity of the financial and economic systems by using the tools of statistical mechanics and information theory. More precisely, this thesis…
It is no secret that many projects fail, regardless of the business sector, software projects are notoriously disaster victims, not necessarily because of technological failure, but more often due to their uncertainties. The threats…
The Great Recession highlighted the role of financial and uncertainty shocks as drivers of business cycle fluctuations. However, the fact that uncertainty shocks may affect economic activity by tightening financial conditions makes…
Changes are inherent in software development, often increasing developers' perception of instability. Understanding the relationship between human factors and Software Engineering processes is crucial to mitigating and preventing issues.…
There are two reasons why uncertainty may not be adequately described by Probability Theory. The first one is due to unique or nearly-unique events, that either never realized or occurred too seldom for frequencies to be reliably measured.…
Consumer agency in the digital age is increasingly constrained by systemic barriers and algorithmic manipulation, raising concerns about the authenticity of consumption choices. Nowadays, financial decisions are shaped by external pressures…
We study the emergence of instabilities in a stylized model of a financial market, when different market actors calculate prices according to different (local) market measures. We derive typical properties for ensembles of large random…
The traditional and most common view of economists on the issue of (bad) uncertainty and its effects has been one of partial equilibrium. When the topic is approached from a macroeconomic perspective, the most frequent has been the…
When it comes to studying the impacts of decision making, the research has been largely focused on examining the fairness of the decisions, the long-term effects of the decision pipelines, and utility-based perspectives considering both the…