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been empirically investigated whether uncertainty-averse decision makers indeed exhibit such preferences. Here, we examine …
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We provide an evolutionary foundation to evidence that in some situations humans maintain optimistic or pessimistic attitudes towards uncertainty and are ignorant to relevant aspects of the environment. Players in strategic games face Knightian uncertainty about opponents' actions and maximize...
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without any such separability restrictions, we are able to uniquely elicit the decision maker's subjective probabilities. The … novel axiom that allows us to do so expresses the idea that at least in the domain of a certain class of acts the decision …
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