Mukerji, Sujoy; Tallon, Jean-Marc - Department of Economics, Oxford University - 2002
Results in this note relate the observation of an interval of prices at which a DM strictly prefers to hold a zero position on an asset (termed `bid-ask behavior`) to the DM`s perception of the underlying payoff relevant events as ambiguous, as the term is defined in Epstein and Zhang (2001)....