Li, Jing - Department of Economics, University of Pennsylvania - 2008
I study how choice behavior given unawareness of an event differs from choice behavior given subjective belief of zero … probability on that event. Depending on different types of unawareness the decision-maker suffers, behavior under unawareness is … either incomparable with that under zero probability (in the case of pure unawareness), or drastically different (in the case …