Economic modeling assumes, for the most part, that agents are Bayesian, that is, that they entertain probabilistic beliefs, objective or subjective, regarding any event in question. We argue that the formation of such beliefs calls for a deeper examination and for explicit modeling. Models of...

We construct a model in which the ambiguity of candidates allows them to increase the number of voters to whom they appeal when voters have intense preferences for one of the alternatives available. An ambiguous candidate may offer voters with different preferences the hope that their most...