characterize dynamically consistent updating for two important models of ambiguity averse preferences: the ambiguity averse smooth …Dynamic consistency leads to Bayesian updating under expected utility. We ask what it implies for the updating of more … ambiguity aversion. This characterization extends to regret-based models as well. As an appli- cation of our general result, we …

Many theories of updating under ambiguity assume either dynamic consistency or consequentialism to underpin … consequentialism than with dynamic consistency and that this result is even stronger among ambiguity averse subjects. …

Finetti Theorem for this framework. A model of updating is also provided. …

Finetti Theorem for this framework. A model of updating is also provided. …

equivalent consistency under updating characterise a family of capacities, called Genralised Neo-Additive Capacities (GNAC). This …

Finetti Theorem for this framework. A model of updating is also provided. …

equivalent consistency under updating characterise a family of capacities, called Genralised Neo-Additive Capacities (GNAC). This …

This paper analyzes dynamic choice for ambiguity-sensitive decision makers. It demonstrates that unambiguous behavioral … decision models and updating rules, and delivers unambiguous welfare comparisons. As an example, a characterization of prior …-by-prior Bayesian updating and Consistent Planning for arbitrary maxmin-expected utility preferences is presented. The resulting …

(SEU) in terms of knowledge and belief. It is shown that observable behavior displays sensitivity to ambiguity if and only … if knowledge and belief disagree. In addition, such an epistemic interpretation of ambiguity leads to dynamically …

This paper investigates how the general public behaves when confronted with low probability events and ambiguity in an … insurance markets. When it comes to willingness to pay, people exhibit ambiguity seeking behaviors. They are willing to pay more … under risk than under ambiguity (embracing here imprecision and conflict), revealing that people consider ambiguous …