Iwaki, Hideki; Osaki, Yusuke - In: Economic Theory 56 (2014) 2, pp. 275-289
This paper studies the “dual” theory of the smooth ambiguity model introduced by Klibanoff et al. (Econometrica 73:1849–1892, <CitationRef CitationID="CR14">2005</CitationRef>). Unlike the original model, we characterize attitudes toward ambiguity captured by second-order probabilities. First, we give a set of axioms to derive a dual...</citationref>
