Izhakian, Yehuda; Izhakian, Zur - In: Economic Theory 58 (2015) 1, pp. 59-98
distinguished from the attitude toward uncertainty, which is drawn from her preferences. Decision making under ambiguity is a …This paper introduces a new model of decision making under uncertainty. Aiming to provide a more realistic depiction of … decision making, it generalizes the von Neumann–Morgenstern theory by including additional tiers of uncertainty. In this model …