health outcomes conditional on observed patient covariates. Let y be an outcome of interest and let (x=k, w=j) be observed … patient covariates. Suppose a clinician wants to choose a care option that maximizes a patient's expected utility conditional …

contribution, the paper extends the smooth ambiguity model by providing a threefold disentanglement between, risk aversion …, ambiguity aversion, and the propensity to smooth consumption over time. …

only possible if all discounted net trades of the equilibrium allocation are mean ambiguity-free. …

decisions on risk assessment and risk management under conditions of ambiguity, i.e. where probabilities cannot be assigned to … current discussion. One charges the agency to apply welfare economics based on expected utility theory. This approach … underpins conventional cost-benet analysis (CBA). The other requires that an ambiguity-averse decision-rule - of which maxmin …

identify axioms under which the set of probabilities and the utility index representing $\succsim^{\ast}$ are the same as those … utility completions. …

, according to which the buyer's utility is a weighted average of his single prior expected utility and the worst-case scenario …

In subjective expected utility (SEU) the decision weights people attach to events are their beliefs about the … they know more about, even when their beliefs are held constant. (They are averse to "ambiguity", or uncertainty about … probability.) We review evidence, recent theoretical explanations, and applications of research on ambiguity and SEU. …