illustrated by the Ellsberg Paradox, this feature rules out a priori any concern with ambiguity. This paper formulates a … continuous-time intertemporal version of multiple-priors utility, where aversion to ambiguity is admissible. When applied to a … premium for risk and a seperate premium for ambiguity. …

ambiguity model to accommodate the investor's aversion to model uncertainty. The investor deals with specification doubts by …

ambiguity model to accommodate the investor's aversion to model uncertainty. The investor deals with specification doubts by …

ambiguity model to accommodate the investor's aversion to model uncertainty. The investor deals with specification doubts by …

new information. Redundancy slows down the learning process and generates decreasing returns. Furthermore, as multiple …

information processing by rationally inattentive investors can be interpreted as learning about the Sharpe ratio of a diversified …

learning. In repeat-choice situations, such learning brings value. If probabilities appear favorable (unfavorable), a choice …, decision makers often prove to be blind to the learning opportunities offered by uncertain probabilities. They forgo …, many make choices contrary to learning. Priming with optimal strategies offers little improvement. Such decision makers …

new information. Redundancy slows down the learning process and generates decreasing returns. Furthermore, as multiple …