Fox, Craig R; Tversky, Amos - In: The Quarterly Journal of Economics 110 (1995) 3, pp. 585-603
Decisions under uncertainty depend not only on the degree of uncertainty but also on its source, as illustrated by Daniel Ellsberg's (1961) observation of ambiguity aversion. In this article, the authors propose the comparative ignorance hypothesis, according to which ambiguity aversion is...