This paper examines a continuous-time intertemporal consumption and portfolio choice problem foran ambiguity …

ambiguity may induce such behaviour.[...] …

toward multiple-prior uncertainties in terms of ambiguity and its corresponding compound risk. Our findings point to a shared …

utility functions, where concavity is an expression of ambiguity aversion and/or risk aversion. This paper extends the … analysis to α-maxmin expected utility, Choquet expected utility, and Cumulative Prospect Theory, which accommodate ambiguity …

We show that ambiguity aversion increases the value of a statistical life as soon as the marginal utility of wealth is … higher if alive than dead. The intuition is that ambiguity aversion has a similar effect as an increase in the perceived … baseline mortality risk, and thus operates as the "dead anyway" effect. We suggest, however, that ambiguity aversion should …

A game-theoretic framework that allows for explicitly randomized strategies is used to study the e ect of ambiguity … predictions of two player games with ambiguity averse and with ambiguity neutral players are observationally equivalent. This … beliefs to the context of ambiguity aversion yields substantially di erent predictions even for the case with just two players. …