can be averse to partial information as a consequence of ambiguity aversion. It introduces a class of recursive … depart from the standard expected-utility theory. A new notion of ambiguity aversion, called Event Complementarity, exactly … characterizes aversion to partial information. Familiar static ambiguity-averse preferences are embedded into the general recursive …

(Knightian uncertainty) and a roulette (objective risk). The class of scale-invariant (SI) ambiguity-averse preferences, in a … associated with SI ambiguity-averse preferences in terms of suitable weak independence axioms in place of scale invariance. …

Two of the most well known regularities observed in preferences under risk and uncertainty are ambiguity aversion and …, together with other standard ones, is equivalent to a representation in which the agent (i) evaluates ambiguity using multiple …

ambiguity aversion. This characterization extends to regret-based models as well. As an application of our general result, we … characterize dynamically consistent updating for two important models of ambiguity averse preferences: the ambiguity averse smooth … ambiguity preferences (Klibanoþ, Marinacci and Mukerji [Econometrica 73 2005, pp. 1849-1892]) and the variational preferences …