behavior under uncertainty. Recent research has questioned the use of Bayes' rule in descriptive models of behavior, presenting …

We investigate whether violations of canonical axioms of choice under risk are mistakes or a manifestation of true …

Two of the most well known regularities observed in preferences under risk and uncertainty are ambiguity aversion and …

Expected utility theory (EUT) is currently the standard framework which formally defines rational decision-making under … behaviour under utility theory is incompatible with scarcity of resources, making behaviour consistent with EUT irrational and …

probabilities, and (3) are ambiguity non-neutral. By decomposing ambiguity into risk and model uncertainty, and jointly eliciting … uncertainty are closely related. However, this association is much stronger when the second layer of uncertainty is subjective … the attitudes individuals manifest towards these two types of uncertainty, we characterize individuals' degree of …