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We propose a model of decision making that captures reluctance to bet when the decision maker (DM) perceives that she lacks adequate in- formation or expertise about the underlying contingencies.
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We propose a model of decision making that captures reluctance to bet when the decision maker (DM) perceives that she lacks adequate information or expertise about the underlying contingencies. On the other hand, the same DM can prefer to bet in situations where she feels specially knowledgeable...
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