When does ambiguity fade away?

Filippo Massari and Jonathan Newton

Economics Letters, 2020, vol. 194, issue C

Abstract: the prior support is finite, long-run ambiguity is known to be a possible outcome only if the learning problem is misspecified (Marinacci and Massari, 2019). We show that if the prior support is naturally rich, long-run ambiguity cannot occur.

Keywords: Ambiguity; Learning; Robust statistical decisions; Misspecified learning (search for similar items in EconPapers)
JEL-codes: C11 D81 D83 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:194:y:2020:i:c:s0165176520302512

DOI: 10.1016/j.econlet.2020.109404

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