. For both ambiguity averse and neutral subjects within this population, one significant channel is behavioral in nature … (anchoring). For ambiguity averse subjects, another channel of similar magnitude is hedging motivated by the desire to reduce … ambiguity. This channel is absent in the case of ambiguity neutral subjects. …

A game-theoretic framework that allows for explicitly randomized strategies is used to study the e ect of ambiguity … predictions of two player games with ambiguity averse and with ambiguity neutral players are observationally equivalent. This … beliefs to the context of ambiguity aversion yields substantially di erent predictions even for the case with just two players. …

ambiguity may induce such behaviour.[...] …

to dynamically consistent behavior. Furthermore, we give an example which shows that ambiguity can introduce new …

This paper proposes that the ambiguity reflected by a set of priors remains unchanged when the set is translated within … the probability simplex, i.e. ambiguity is location invariant. This unifies and generalises numerous influential … definitions of ambiguity in the literature. Location invariance is applied to normal form games where players perceive strategic …