Mukerji, Sujoy; Klibanoff, Peter; Marinacci, Massimo - Department of Economics, Oxford University - 2011
. We first consider the definition proposed in Klibanoff, Marinacci, and Mukerji (2005) based on the classic Ellsberg two …-urn paradox (Ellsberg (1961)), and show that it satisfies several desirable properties. We then compare this definition with …