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Symmetry of evidence without evidence of symmetry
Epstein, Larry G.; Seo, Kyoungwon - In: Theoretical Economics 5 (2010) 3, pp. 313-368
Finetti Theorem for this framework. A model of updating is also provided. …
Persistent link: https://www.econbiz.de/10011599431
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Symmetry of evidence without evidence of symmetry
Epstein, Larry G.; Seo, Kyoungwon - In: Theoretical economics : TE ; an open access journal in … 5 (2010) 3, pp. 313-368
Finetti Theorem for this framework. A model of updating is also provided. …
Persistent link: https://www.econbiz.de/10011695312
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Learning under ambiguity: An experiment using initial public offerings on a stock market
Baillon, Aurélien; Bleichrodt, Han; Keskin, Umut; … - Centre de Recherche en Économie et Management (CREM) - 2013
This paper studies the effect of learning new information on decision under uncertainty.Using ambiguity models, we show … the effect of learning on beliefs and ambiguity attitudes. We develop a new method to correct beliefs for ambiguity … attitudes and decompose ambiguity attitudes into pessimism (capturing ambiguity aversion) and likelihood insensitivity. We apply …
Persistent link: https://www.econbiz.de/10010854384
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Symmetry of evidence without evidence of symmetry
Epstein, Larry G.; Seo, Kyoungwon - In: Theoretical Economics 5 (2010) 3
Finetti Theorem for this framework. A model of updating is also provided. …
Persistent link: https://www.econbiz.de/10008599642
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Case-Based Belief Formation under Ambiguity
Eichberger, Jürgen; Guerdjikova, Ani - 2010
In this paper, we consider a decision-maker who tries to learn the distribution of outcomes from previously observed cases. For each observed database of cases the decision-maker predicts a set of priors expressing his beliefs about the underlying probability distribution. We impose a version of...
Persistent link: https://www.econbiz.de/10010270218
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Cautious Belief Formation
Bleile, Jörg - 2014
We provide an axiomatic approach to a belief formation process in an informational environment characterized by limited, heterogenous and diff erently precise information. For a list of previously observed cases an agent needs to express her belief by assigning probabilities to possible...
Persistent link: https://www.econbiz.de/10010427183
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Social anchor effects in decision-making under ambiguity
Lahno, Amrei M. - 2014
I experimentally examine whether feedback about others' choices provides an anchor for decision-making under ambiguity … relative ambiguity attitude (compared to the peer's) significantly matters for shifts in individual attitudes, and that … dynamics considerably differ between gain and loss domains. For gains, learning to be comparably ambiguity averse increases the …
Persistent link: https://www.econbiz.de/10010427692
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Cautious belief formation
Bleile, Jörg - 2014
We provide an axiomatic approach to a belief formation process in an informational environment characterized by limited, heterogenous and differently precise information. For a list of previously observed cases an agent needs to express her belief by assigning probabilities to possible outcomes....
Persistent link: https://www.econbiz.de/10010356678
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Social anchor effects in decision-making under ambiguity
Lahno, Amrei M. - 2014
I experimentally examine whether feedback about others' choices provides an anchor for decision-making under ambiguity … relative ambiguity attitude (compared to the peer's) significantly matters for shifts in individual attitudes, and that … dynamics considerably differ between gain and loss domains. For gains, learning to be comparably ambiguity averse increases the …
Persistent link: https://www.econbiz.de/10010364762
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Risk assessment under ambiguity : precautionary learning vs. research pessimism
Heyen, Daniel; Goeschl, Timo; Wiesenfarth, Boris Roland - 2015
decisions on risk assessment and risk management under conditions of ambiguity, i.e. where probabilities cannot be assigned to … underpins conventional cost-benet analysis (CBA). The other requires that an ambiguity-averse decision-rule - of which maxmin …
Persistent link: https://www.econbiz.de/10011409139