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Ambiguity

Jürgen Eichberger and David Kelsey

No 07-50, Sonderforschungsbereich 504 Publications from Sonderforschungsbereich 504, Universität Mannheim, Sonderforschungsbereich 504, University of Mannheim

Abstract: Ambiguity refers to a decision situation under uncertainty when there is incomplete information about the likelihood of events. Different formal models of this notion have been developed with differing implications about the representation of ambiguity and ambiguity aversion.

Pages: 31 pages
Date: 2007-07-11
New Economics Papers: this item is included in nep-cbe and nep-upt
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