In Ghirardato, Macheroni and MArcinaccri (GMM) propose a method for distinguishing between percieved ambiguity and the … subclass of a-MEU preferences. We show that for Hurwicz preferences the proposed measure of ambiguity depends on parameters … which intuitively reflect ambiguity-attitude. Furthermore, any a-MEU preferences which satisfy the CEU axioms, satisfy GMM …

In [7] Ghirardato, Macheroni and Marinacci (GMM) propose a method for distinguishing between perceived ambiguity and …

We present a non-technical account of ambiguity in strategic games and show how it may be applied to economics and … social sciences. Optimistic and pessimistic responses to ambiguity are formally modelled. We show that pessimism has the e …?ect of increasing (decreasing) equilibrium prices under Cournot (Bertrand) competition. In addition the e?ects of ambiguity …

The paper examines the impacts of ambiguity and ambiguity attitudes on macro-economic "Big Push" model. By formally … modelling ambiguity, optimism and pessimism in economic industrialization, we show the results with Keynesian flavour …

Raiffa (1961) has suggested that ambiguity aversion will cause a strict preference for randomization. We show that … for a dynamically-consistent ambiguity averse preference relation to exhibit a strict preference for some ex post … randomizations. We argue that our analysis throws some light on the recent debate about paradoxes for the smooth model of ambiguity …

We report an experimental test of the influence of ambiguity on behaviour in a coordination game. We study the … behaviour of subjects in the presence of ambiguity and attempt to determine whether they prefer to choose an ambiguity safe … indeed chosen quite frequently. This provides evidence that ambiguity aversion infl?uences behaviour in games. While the …

The paper examines the effect of ambiguity on contests where multiple parties expend resources to win a prize. We … develop a model where contenders perceive ambiguity about their opponents’ strategies and determine how perceptions of … ambiguity and attitudes to ambiguity affect equilibrium choice. The paper also investigates how equilibrium under ambiguity is …

In this paper we consider the effect of ambiguity on the private provision of public goods. Equilibrium is shown to …

Ambiguity refers to a decision situation under uncertainty when there is incomplete information about the likelihood of … ambiguity and ambiguity aversion. …

We present a non-technical account of ambiguity in strategic games and show how it may be applied to economics and … social sciences. Optimistic and pessimistic responses to ambiguity are formally modelled. We show that pessimism has the … ambiguity on peace-making are examined. It is shown that ambiguity may select equilibria in coordination games with multiple …