The focus of this paper is to analyze the effect that ambiguity will have on the buyer's reservation price and the … neutral and ambiguity averse. The problem is formulated as an optimal stopping problem with multiple priors in continuous time … ambiguity. …

This paper studies sequential information acquisition by an ambiguity-averse decision maker (DM), who decides how long … updates prior by prior. We show that the consideration of ambiguity gives rise to rich dynamics: compared to the Bayesian DM …

effects using both types of stimuli, but they are stronger for the naturalistic stimulus and in the context of ambiguity …

We propose and axiomatically characterize dynamically consistent update rules for decision making under ambiguity … of preferences over acts, to be able to reconcile typical behavior in the face of ambiguity (as exemplified by Ellsberg …

to information differences (sampling bias), to a feature of preferences (ambiguity sensitivity) or to aspects of …

information differences (sampling bias), to a feature of preferences (ambiguity sensitivity) or to aspects of cognition …

context of ambiguity. These effects are also highly gender-specific with only males being susceptible. To probe the emotional …

Observed individual behavior in the presence of ambiguity is characterized by insufficient responsiveness to changes in … subjective likelihoods. Such likelihood insensitivity under ambiguity is integral to theoretical models and predictive of … and determining factors. This paper investigates the role of beliefs in the form of ambiguity perception - the extent to …