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Uncertainty, Expectations and macro models

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  • Full or part time
    Dr G Piccillo
  • Application Deadline
    Applications accepted all year round
  • Self-Funded PhD Students Only
    Self-Funded PhD Students Only

Project Description

This position will remain open until a suitable candidate has been found.

Behavioural literature highlights that decision-making under uncertainty strays in predictable ways from traditional models based on well-known Neumann-Morgenstern utility functions. This literature also identifies macro-policy implications of uncertainty.
However when it comes to identifying true uncertainty in the real-world, few stylized-facts exist. It has been widely assumed, without proof, that expectation-diversity be a proxy for economic uncertainty.

This proposal challenges said assumption: the goal is a real-world study of expectation diversity and uncertainty. This connection is studied through a narrative approach and all its wider consequences are analyzed. Finally, these insights are integrated into current literature for policy implications.

To apply for this opportunity, please visit: https://www.liverpool.ac.uk/study/postgraduate-research/how-to-apply/

Funding Notes

There is no specific funding for this project, however, the successful candidate will be able to apply for funding offered by the Management School.

Related Subjects



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