Machina, Mark J.; Siniscalchi, Marciano - In: Handbook of the economics of risk and uncertainty : volume 1, (pp. 729-807). 2014
The phenomena of ambiguity and ambiguity aversion , introduced in Daniel Ellsberg’s seminal 1961 article, are … analytical descriptions of the numerous (primarily axiomatic) models of ambiguity aversion which have been developed by economic … theorists, and concludes with a discussion of some current theoretical topics and newer examples of ambiguity aversion. …