significantly from normality. Even though the Shannon entropy is more inclusive of different facets of a forecast density, we find …

avoid ambiguity even when it means choosing dominated options. In contrast to the literature, we find that 55% of subjects … that such a preference is not mainly due to a lack of understanding. We conclude that subjects avoid ambiguity per se … rather than avoiding ambiguity because it may yield a worse outcome. Such behavior cannot be reconciled with existing models …

face lower relocation costs than NEs, which enhances their bargaining position. Using French firm-level data and entropy …

market outcomes, we apply a regression-adjusted matched difference-in-differences approach with entropy balancing to account …

An extensive literature has studied ambiguity aversion in economic decision making, and how ambiguity aversion can … general dislike of ambiguity. In this paper, we provide a systematic experimental assessment of ambiguity attitudes in … more than 500 participants and find that ambiguity aversion is the exception, not the rule. We replicate the usual finding …