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.uncertainty, ambiguity, ambiguity attitude

David Kelsey

Jürgen Eichberger

English

Research Papers in Economics

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(2006b): “Is it Possible to Deﬁne Subjective Probabilities in Purely Behavioral Terms? A Comment on Epstein-Zhang

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A Theory of Anticipated Utility,”

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ADeﬁnition ofUncertainty

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Ambiguity Made Precise: A Comparative Foun29dation,”

Ambiguity, Uncertainty-Aversion and Equilibrium

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Choquet Expected Utility Model: ANew approach to

Differentiating Ambiguity and Ambiguity Attitude,”

Equilibrium in Beliefs under

Expected Utility with Purely Subjective Non-Additive Probabilities,”

Foundations of Statistics.

Granny versus Game Theorist: Ambiguity

Increasing Uncertainty:

Individual Decision Making,”

Intertemporal Asset Pricing under

Maxmin Expected Utility with a Non-Unique Prior,”

More Pessimism than Greediness: A Characterization of Monotone Risk Aversion in the Rank-dependent Expected Utility Model,” Economic Theory,

Nash Equilibrium under Uncertainty: Breaking Down Backward Induction,”

Non-Additive Beliefs

Non-additive Measure and Integral, Basic Concepts and Their Role for Applications,”

On the Existence of Subjective Upper and Lower Probabilities,”

Optimal Risk-Sharing Rules and Equilibria with Choquet Expected Utility,”

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Prospect Theory: An Analysis of Decision under

Recent Developments in Modelling Preferences:

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Risk, Uncertainty, and Proﬁt. Houghton Mifﬂin,

Sharing Ambiguity,” American Economic Review, Papers and

Some Remarks on Measures of Risk Aversion And their Uses,”

Subjective Probability and Expected Utility without

Testing and Characterizing Properties of Nonadditive Measures Through Violations of the Sure Thing Principle,”

Ambiguity

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Research Papers in Economics