ambiguity is inconsistent with Savage's theory. Chapter 3 examines the value of information when preference conforms to multiple … can lead to nonexistence of equilibria and other modeling difficulties. I show that introduction of ambiguity into a …

, with the game ranging from a zero-sum one to a coordination game. Meanwhile, the predictions by ambiguity aversion models …

information structures; complete separations of attitudes toward risk and ambiguity; and new classes of preferences that allow … decreasing relative ambiguity aversion and thereby rationalize recent challenges to many of the extant multiple prior models of … ambiguity aversion. We also characterize a property of sets of priors, descriptive completeness, that resolves several open …

I experimentally examine whether feedback about others' choices provides an anchor for decision-making under ambiguity … relative ambiguity attitude (compared to the peer's) significantly matters for shifts in individual attitudes, and that … dynamics considerably differ between gain and loss domains. For gains, learning to be comparably ambiguity averse increases the …