to create a level playing field when uncertainty over the quality and performance of players exists. A notable role of …

We experimentally explore decision-making under uncertainty using a framework that decomposes uncertainty into three … distinct layers: (1) physical uncertainty, entailing inherent randomness within a given probability model, (2) model … uncertainty, entailing subjective uncertainty about the probability model to be used and (3) model misspecification, entailing …

probabilities, and (3) are ambiguity non-neutral. By decomposing ambiguity into risk and model uncertainty, and jointly eliciting … uncertainty are closely related. However, this association is much stronger when the second layer of uncertainty is subjective … the attitudes individuals manifest towards these two types of uncertainty, we characterize individuals' degree of …

In this paper, football data from the 2007/2008 to 2016/2017 seasons of the Italian Serie A were used to identify the …