Attanasi, Giuseppe; Gollier, Christian; Montesano, Aldo; … - Toulouse School of Economics (TSE) - 2012
We define coherent-ambiguity aversion within the Klibano¤, Marinacci and Mukerji (2005) smooth ambiguity model (henceforth KMM) as the combination of choice-ambiguity aversion and value-ambiguity aversion. We analyze theoretically ?ve ambiguous decision tasks, where a subject faces two-stage...