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For each of three types of ambiguity, we compute a robust Ramsey plan and an associated worst-case probability model …. Ex post, ambiguity of type I implies endogenously distorted homogeneous beliefs, while ambiguities of types II and III … distinctions among the three types of ambiguity. We use recursive formulations of Ramsey problems to impose local predictability of …
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elicit ambiguity attitudes towards multiple 3-color Ellsberg urns over a period of two months. In our data, 57% of the … be stable over time. In this paper, we analyze the stability of ambiguity preferences experimentally. We repeatedly …
Persistent link: https://www.econbiz.de/10010895522
This paper studies the impact of uncertainty on the investors' reactions to news on macroeconomic statistics. With daily data on realized volatility and trading volume, we show that the investors in the US Treasury bond futures market react significantly stronger to US macroeconomic news in...
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more detailed understanding of the role of ambiguity in professional work, and its relationship to the division of labour … more nuanced view on the role and origins of ambiguity is needed; particularly the role ambiguity plays in the division of … labour. While inherent in professional work, ambiguity is also an effect of the way work processes are organised in order to …
Persistent link: https://www.econbiz.de/10014685905
/numbers in MA and other cognitive frames, three forms of ambiguity may occur. Definitional ambiguities occur as actors' extant MA … different forms of ambiguity constitute important sources of critical and collective reflection of, and subsequent change in …
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