Ambiguity Aversion Phenomenon and Rational Choice Theory

I. Pavlov

Voprosy Ekonomiki, 2011, issue 10

Abstract: The paper analyzes ambiguity aversion that is one of the main anomalies characteristic for the individual behaviour of economic agents making choice in the face of uncertainty. It shows that this phenomenon plays a major role in the contemporary rational choice theory and hence is widely discussed both by economic theorists and experimental economists. The article further elaborates on the nature of this phenomenon and considers its main causes.

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2011:id:1138

DOI: 10.32609/0042-8736-2011-10-16-34

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