In [5] (Int. J. Game Theory, 42:567-592, 2013) a general notion of perfect Bayesian equilibrium (PBE) was introduced for extensive-form games and shown to be intermediate between subgame-perfect equilibrium and sequential equilibrium. The essential ingredient of the proposed notion is the...

Abstract Popular models for decision making under ambiguity assume that people use not one but multiple priors. This paper is a first attempt to experimentally elicit multiple priors. In an ambiguous scenario with two underlying states we measure a subject’s single prior, her other potential...

People believe that, even in very large samples, proportions of binary signals might depart significantly from the population mean.  We model this "non-belief in the Law of Large Numbers" by assuming that a person believes that proportions in any given sample might be determined by a rate...