This paper analyzes dynamic choice for ambiguity-sensitive decision makers. It demonstrates that unambiguous behavioral … sophisticated MEU preferences are then used to analyze the value of information under ambiguity; a basic trade-off between …

This paper analyzes preferences in the presence of ambiguity that are rational in the sense of satisfying the classical … Ellsberg (1961). We then discuss ambiguity attitudes, as well as unambiguous acts and events, for the class of rational …

This paper considers local and global multiple-prior representations of ambiguity for preferences that are (i …

This paper analyzes dynamic choice for ambiguity-sensitive decision makers. It demonstrates that unambiguous behavioral … sophisticated MEU preferences are then used to analyze the value of information under ambiguity; a basic trade-off between …

This paper proposes a model of decision under ambiguity deemed vector expected utility, or VEU. In this model, an … that reflects the individual's perception of ambiguity and her attitudes toward it. The adjustment is itself a function of … the act's exposure to distinct sources of ambiguity, as well as its variability. The key elements of the VEU model are a …

several recent decision models: multiplier preferences, the smooth ambiguity model, the vector expected utility model, as well …

This paper analyzes a model of decision under ambiguity, deemed vector expected utility or VEU. According to the …, and (2) an ambiguity-adjustment term. The adjustment term may be interpreted as reflecting the variability of the act f …

This paper analyzes dynamic choice for ambiguity-sensitive decision makers. It demonstrates that unambiguous behavioral … sophisticated MEU preferences are then used to analyze the value of information under ambiguity; a basic trade-off between …