We report a portfolio-choice experiment that enables us to estimate parametric models of ambiguity aversion at the …

We review some of the (theoretical) economic implications of David Schmeidler's models of decision under uncertainty …

arising from different sources of uncertainty. Ellsberg describes this as weighting the priors arising from the unknown urn … pessimistically. In two experiments, we observe substantial links between attitude toward almost‐objective uncertainty and attitudes … component across domains of uncertainty and motivate the need for further theoretical development. …

We design and implement a novel experimental test of subjective expected utility theory and its generalizations. Our … function, but not with subjective utility theory. The theory is tested by gauging how subjects respond to price changes. A … majority of subjects respond to price changes in the direction predicted by the theory, but not to a degree that makes them …

proof. Our paper provides the first test of the value (positive or negative) of information under uncertainty. We show that … the "Bayesian implication" stands in conflict with the information-averse behavior that is revealed in our experiment … aversion. This highlights the importance of counseling for decision-making under uncertainty. …

We implement an experiment to elicit subjects’ ambiguity attitudes in the spirit of Ellsberg’s three-color urn. The …

probabilistic description of uncertainty is present, we observe analogue quantitative and qualitative properties. The type of …

During recent decades, many new models have emerged in pure and applied economic theory according between Epstein (2010 … to an ambiguity averse preference for a randomized act. Building on this insight, we implement an experiment whose design …