Showing 1 - 10 of 127
Persistent link: https://www.econbiz.de/10002641609
We propose a solution concept for a class of extensive form games with ambiguity. Specifically we consider multi-stage games. Players have CEU preferences. The associated ambiguous beliefs are revised by Generalized Bayesian Updating. We assume individuals take account of possible changes in...
Persistent link: https://www.econbiz.de/10012949812
Persistent link: https://www.econbiz.de/10015204261
Persistent link: https://www.econbiz.de/10009261725
This paper studies how updating affects ambiguity-attitude. In particular we focus on the generalized Bayesian update of the Jaffray-Phillipe sub-class of Choquet Expected Utility preferences. We find conditions for ambiguity-attitude to be the same before and after updating. A necessary and...
Persistent link: https://www.econbiz.de/10009514770
Persistent link: https://www.econbiz.de/10003715946
Persistent link: https://www.econbiz.de/10003652996
Persistent link: https://www.econbiz.de/10011898892
We propose a solution concept for a class of extensive form games with ambiguity. Specifically we consider multi-stage games. Players have CEU preferences. The associated ambiguous beliefs are revised by Generalized Bayesian Updating. We assume individuals take account of possible changes in...
Persistent link: https://www.econbiz.de/10011745370
Accounting for ambiguity aversion in dynamic decisions generally implies that either dynamic consistency or consequentialism must be given up. To gain insight into which of these principles better describes people's preferences we tested them using a variation of Ellsberg's three-color urn...
Persistent link: https://www.econbiz.de/10012320171