What is Partial Ambiguity?

Loïc Berger

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Abstract: This paper reflects on the notion of partial ambiguity. Using a framework decomposing ambiguity into distinct layers of analysis, among which are risk and model uncertainty, and allowing for different attitudes toward these layers, I show that partial ambiguity may prove less desirable than full ambiguity, even under ambiguity aversion. This observation poses difficulties for interpreting the notion of partial ambiguity in relation to the partial information available to determine the potential compositions of an ambiguous urn. Two Ellsberg-style thought experiments are described to challenge the meaning of partial ambiguity further, and an alternative interpretation, based on a more ambiguous relation, is discussed.

Keywords: Ambiguity; model uncertainty; smooth ambiguity aversion; Ellsberg paradox (search for similar items in EconPapers)
Date: 2022-07-01
New Economics Papers: this item is included in nep-exp, nep-mic and nep-upt
Note: View the original document on HAL open archive server: https://hal.science/hal-03158580
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Citations: View citations in EconPapers (2)

Published in Economics and Philosophy, 2022, 38 (2), pp.206-220

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Related works:
Journal Article: What is partial ambiguity? (2022)
Working Paper: What is partial ambiguity? (2022)
Working Paper: WHAT IS PARTIAL AMBIGUITY? (2021)
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