Li, Jian - In: Theoretical economics : TE ; an open access journal in … 15 (2020) 3, pp. 1059-1094
can be averse to partial information as a consequence of ambiguity aversion. It introduces a class of recursive … depart from the standard expected-utility theory. A new notion of ambiguity aversion, called Event Complementarity, exactly … characterizes aversion to partial information. Familiar static ambiguity-averse preferences are embedded into the general recursive …