expert disagreement rest on ambiguity-averse preferences adopting a unanimity principle: If all experts consider one choice …

, subjects can reduce or even eliminate the ambiguity and turn the decision situation into one of risk. Under the assumption that … an ambiguity averse subject should reduce ambiguity within a decision process we predicted that these subjects would … request more information. Moreover, we investigate whether the relation between attitudes towards risk and ambiguity is linked …

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 …

This paper addresses the question of optimal currency exposure for a risk-and-ambiguity-avers international investor. A … robust mean-variance model with smooth ambiguity preferences is used to derive the optimal currency exposure. In the … regression. Through the lens of these results, we demonstrate that our ambiguity-based model offers a new explanation of the home …

construct a dynamic Bayesian occupational choice model with sequential decisions under ambiguity due to imperfect information …

axiomatizations. Ambiguity attitude and attitude toward information in general are discussed and characterized. …

If agents are ambiguity-averse and can invest in productive assets, asset prices can robustly exhibit indeterminacy in …

(Knightian uncertainty) and a roulette (objective risk). The class of scale-invariant (SI) ambiguity-averse preferences, in a … associated with SI ambiguity-averse preferences in terms of suitable weak independence axioms in place of scale invariance. …

experimental approach, we analyze the impact of risk, imprecision in probabilities (ambiguity), imprecision in outcomes, and a …