We examine the impact of ambiguity on economic behaviour. We present a relatively non-technical account of ambiguity … and show how it may be applied in economics. Optimistic and pessimistic responses to ambiguity are formally modelled. We … also examine the effects of ambiguity on peace processes. It is shown that ambiguity can act to select equilibria in …

sincere voting is an equilibrium outcome of our model for a large set of parameter values implying the possibility of ex post … conflict between committee members. Furthermore, abandonning the assumption of sincere voting, we characterize necessary and …