The recent spate of theoretical models of behaviour under ambiguity can be partitioned into two sets: those involving …

The recent spate of theoretical models of behaviour under ambiguity can be partitioned into two sets: those involving …

Representing ambiguity in the laboratory using a Bingo Blower (which is transparent and not manipulable) and asking the … subset of the empirically relevant models of behaviour under ambiguity, and compare their relative explanatory and predictive …

Representing ambiguity in the laboratory using a Bingo Blower (which is transparent and not manipulable) and asking the … significant subset of the empirically relevant models of behaviour under ambiguity, and compare their relative explanatory and …

(KMM) interpret ambiguity aversion as aversion against second-order risks associated with ambiguous acts. We design an … experiments. It appears that the ambiguity premium is partially paid to avoid the ambiguity issue per se, which is distinct from … notions of second- order risk. This finding is robust even when there is only partial ambiguity, and is applicable to all …

(KMM) interpret ambiguity aversion as aversion against second-order risks associated with ambiguous acts. We design an … experiments. It appears that the ambiguity premium is partially paid to avoid the ambiguity issue per se, which is distinct from … notions of second- order risk. This finding is robust even when there is only partial ambiguity, and is applicable to all …

Observed individual behavior in the presence of ambiguity is characterized by insufficient responsiveness to changes in … subjective likelihoods. Such likelihood insensitivity under ambiguity is integral to theoretical models and predictive of … and determining factors. This paper investigates the role of beliefs in the form of ambiguity perception - the extent to …

they know more about, even when their beliefs are held constant. (They are averse to "ambiguity", or uncertainty about … probability.) We review evidence, recent theoretical explanations, and applications of research on ambiguity and SEU. …

In this paper we examine the performance of theories of decision making under uncertainty/ambiguity from the … end, we employ an innovative experimental design which enables us to reproduce ambiguity in the laboratory in a …