compensation schemes and ambiguity on insurance and self-insurance decisions. Consistent with theory, we find that government … the purchase of an insurance policy. Thirdly, we find that ambiguity, i.e., uncertainty about probability, significantly … increases WTPs for insurance. This result, which indicates that decision-makers are ambiguity averse, is in line with previous …

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 …

context of ambiguity. These effects are also highly gender-specific with only males being susceptible. To probe the emotional …

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. …