Uncertainty, Expectations and macro models
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/
There is no specific funding for this project, however, the successful candidate will be able to apply for funding offered by the Management School.