We investigate whether violations of canonical axioms of choice under risk are mistakes or a manifestation of true …

attitudes towards ambiguity and compound risk which suggests that compound risk aversion may provide a psychological foundation … for ambiguity aversion. However, compound risk aversion and ambiguity aversion may also be independent psychological …’s ability to reduce compound to simple risks, and analyzing how this affects their compound risk and ambiguity attitudes in …

We formulate a simple quantum decision model of the Ellsberg paradox. We report the results of an experiment we …

can generate systematic biases in revealed preference measures such as spurious risk aversion. These effects are very …

explain a set of behavioral anomalies identified across four distinct domains of decision-making: choice under risk, choice … risk and ambiguity, belief updating, and survey expectations. Our framework makes predictions that we test using exogenous …

We conduct an incentivized experiment on a nationally representative US sample (N=708) to test whether people prefer to …