they know more about, even when their beliefs are held constant. (They are averse to "ambiguity", or uncertainty about … probability.) We review evidence, recent theoretical explanations, and applications of research on ambiguity and SEU. …

discounting, it mis-estimated climate risk, possibly hugely. Given the uncertainty about estimating the SCC, the note concludes by …This note considers the treatment of risk and uncertainty in the recently established social cost of carbon (SCC) for …

discounting, it mis-estimated climate risk, possibly hugely. Given the uncertainty about estimating the SCC, the note concludes by …This note considers the treatment of risk and uncertainty in the recently established social cost of carbon (SCC) for …

discounting, it mis-estimated climate risk, possibly hugely. Given the uncertainty about estimating the SCC, the note concludes by …This note considers the treatment of risk and uncertainty in the recently established social cost of carbon (SCC) for …

they know more about, even when their beliefs are held constant. (They are averse to "ambiguity", or uncertainty about … probability.) We review evidence, recent theoretical explanations, and applications of research on ambiguity and SEU. …

ambiguity averse relation. First, we define two notions of more ambiguous with respect to such a class. A more ambiguous (I) act … makes an ambiguity averse decision maker (DM) worse off but does not affect the welfare of an ambiguity neutral DM. A more … ambiguous (II) act adversely affects a more ambiguity averse DM more, as measured by the compensation they require to switch …

ambiguity averse relation. First, we define two notions of more ambiguous with respect to such a class. A more ambiguous (I) act … makes an ambiguity averse decision maker (DM) worse off but does not affect the welfare of an ambiguity neutral DM. A more … ambiguous (II) act adversely affects a more ambiguity averse DM more, as measured by the compensation they require to switch …

ambiguity model of decision making under uncertainty developed by Klibanoff, Marinacci and Mukerji (2005).  We revisit these … thought exeperiments and find, to the contrary, that they either point to strengths of the smooth ambiguity model compared to … experiment, raise criticisms that apply equally to a broad range of current ambiguity models. …

Are foundations of models of ambiguity-sensitive preferences too flawed to be usefully applied to economic models?  Al …-Najjar and Weinstein do not apply to quite a few of the ambiguity preference models of more recent vintage, and therefore to that … extent do not undermine the foundational aspects or applicability of ambiguity models in general.  Second, we argue the focus …

risk attitudes can be applied as well to ambiguity attitudes. The model is also distinct from many in the literature on … her subjective information. A key feature of our model is that it achieves a separation between ambiguity, identified as a … characteristic of the decision maker`s subjective information, and ambiguity attitude, a characteristic of the decision maker …