Pace, Noemi; Attanasi, Giuseppe; Gollier, Christian; … - Dipartimento di Economia, Università Ca' Foscari Venezia - 2012
We define coherent-ambiguity aversion within the Klibanoff, Marinacci and Mukerji (2005) smooth ambiguity model (henceforth KMM) as the combination of choice-ambiguity aversion and value-ambiguity aversion. We analyze theoretically five ambiguous decision tasks, where a subject faces two-stage...