Eliciting Ambiguous Beliefs using Constructed Ambiguous Acts : Alpha-Maxmin

We elicit subjective ambiguous beliefs of an agent with ambiguity-sensitive preferences; in particular, as represented by the alpha-maxmin model. An important problem with the model is that it cannot be identified using observations from typical choice problems, as the preference parameter alpha confounds observation of beliefs. Our main conceptual contribution is to show that the model can in fact be fully identified by using constructed ambiguous acts to elicit alpha