The α-MEU model and the smooth ambiguity model are two popular models in decision making under ambiguity. However, the …

Are foundations of models of ambiguity-sensitive preferences too flawed to be usefully applied to economic models?  Al …-Najjar and Weinstein do not apply to quite a few of the ambiguity preference models of more recent vintage, and therefore to that … extent do not undermine the foundational aspects or applicability of ambiguity models in general.  Second, we argue the focus …

Although much of the theoretical literature on ambiguity works under the assumption of uncertainty aversion …

The α-MEU model and the smooth ambiguity model are two popular models in decision making under ambiguity. However, the …

We study the market implications of ambiguity in common models. We show that generic determinacy is a robust feature in … general equilibrium models that allow a distinction between ambiguity and risk. …