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Polarization and ambiguity
Baliga, Sandeep; Hanany, Eran; Klibanoff, Peter - 2013
We offer a theory of polarization as an optimal response to ambiguity. Suppose individual A's beliefs first … impossible under Bayesian updating or after observing extreme signals. However, we also show that polarization can arise after …
Persistent link: https://www.econbiz.de/10010352846
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Updating preferences with multiple priors
Klibanoff, Peter; Hanany, Eran - In: Theoretical Economics 2 (2007) 3, pp. 261-298
of preferences over acts, to be able to reconcile typical behavior in the face of ambiguity (as exemplified by Ellsberg …’s paradox) with dynamic consistency for all non-null events. Updating takes the form of applying Bayes’ rule to subsets of the …
Persistent link: https://www.econbiz.de/10011599390
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Updating ambiguity averse preferences
Hanany, Eran; Klibanoff, Peter - 2008
Dynamic consistency leads to Bayesian updating under expected utility. We ask what it implies for the updating of more … characterize dynamically consistent updating for two important models of ambiguity averse preferences: the ambiguity averse smooth …
Persistent link: https://www.econbiz.de/10010266275
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Updating preferences with multiple priors
Hanany, Eran; Klibanoff, Peter - In: Theoretical economics : TE ; an open access journal in … 2 (2007) 3, pp. 261-298
of preferences over acts, to be able to reconcile typical behavior in the face of ambiguity (as exemplified by Ellsberg …’s paradox) with dynamic consistency for all non-null events. Updating takes the form of applying Bayes’ rule to subsets of the …
Persistent link: https://www.econbiz.de/10011702323
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Updating preferences with multiple priors
Klibanoff, Peter; Hanany, Eran - In: Theoretical Economics 2 (2007) 3
of preferences over acts, to be able to reconcile typical behavior in the face of ambiguity (as exemplified by Ellsberg …’s paradox) with dynamic consistency for all non-null events. Updating takes the form of applying Bayes’ rule to subsets of the …
Persistent link: https://www.econbiz.de/10005812751
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Updating Ambiguity Averse Preferences
Hanany, Eran; Klibanoff, Peter - Center for Mathematical Studies in Economics and … - 2008
Dynamic consistency leads to Bayesian updating under expected utility. We ask what it implies for the updating of more … characterize dynamically consistent updating for two important models of ambiguity averse preferences: the ambiguity averse smooth …
Persistent link: https://www.econbiz.de/10005588544
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Hypothesis testing and ambiguity aversion
Ortoleva, Pietro - In: Rivista di politica economica 103 (2014) 7/9, pp. 45-63
Persistent link: https://www.econbiz.de/10010434174
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Hypothesis Testing and Ambiguity Aversion
Ortoleva, Pietro - In: Rivista di Politica Economica (2014) 3, pp. 45-64
We study a model of non-Bayesian updating for ambiguity averse agents, based on the Hypothesis Testing model of … coincides with Bayesian updating when defined, but it also prescribes behavior when it is not defined. …
Persistent link: https://www.econbiz.de/10010942351
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Symmetry axioms and perceived ambiguity
Klibanoff, Peter; Mukerji, Sujoy; Seo, Kyoungwon - 2017
Since at least de Finetti [7], preference symmetry assumptions have played an important role in models of decision making under uncertainty. In the current paper, we explore (1) the relationship between the symmetry assumption of Klibanoff, Mukerji and Seo (KMS) [21] and alternative symmetry...
Persistent link: https://www.econbiz.de/10011927996
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Symmetry axioms and perceived ambiguity
Klibanoff, Peter; Mukerji, Sujoy; Seo, Kyoungwon - 2017
Since at least de Finetti [7], preference symmetry assumptions have played an important role in models of decision making under uncertainty. In the current paper, we explore (1) the relationship between the symmetry assumption of Klibanoff, Mukerji and Seo (KMS) [21] and alternative symmetry...
Persistent link: https://www.econbiz.de/10011694779