We define coherent-ambiguity aversion within the Klibanoff, Marinacci and Mukerji (2005) smooth ambiguity model (henceforth KMM) as the combination of choice-ambiguity aversion and value-ambiguity aversion. We analyze theoretically five ambiguous decision tasks, where a subject faces two-stage...

We propose an analysis of behavioral factors (attitudes toward risk, ambiguity, and reduction of compound lotteries) as choice determinants of a smart contract vs. an ambiguous expert-based one in the context of car insurance. In a laboratory experiment, we develop a toy model representing this...