Real options models characterized by the presence of ambiguity have been recently proposed. But based on recursive … multiple-priors approaches to solve ambiguity, these seminal models reduce individual preferences to extreme pessimism by … dynamics of ambiguous expected cash flows, we show that a much broader spectrum of attitudes towards ambiguity may be accounted …

probabilities of possible returns are unknown, we argue that trust behavior may correlate more specifically with ambiguity aversion … standard one shot anonymous trust game (OSG). We found significant negative correlations between aversion to ambiguity and …

Axiomatic models of decision under ambiguity with a non-unique prior allow for the existence of Crisp Fair Gambles …

linear costs of Self-Control. In this paper we extend this theory to situations in which a decision-maker faces ambiguity. We … order to take into account individual attitudes towards ambiguity in the second period. …

's (VEU) axioms and who is ambiguity averse. To this end, we derive a mean-variance preference generalised to ambiguity from … to ambiguity in the VEU framework. Our criterion has attractive features: it is axiomatically well-founded and …

of ambiguity, there exists an equilibrium with inertia where agents also insure fully against Knightian uncertainty. When … the level of ambiguity exceeds a critical threshold, full insurance no longer prevails and there exist equilibria with …