, decision makers can be biased, display aversion to prior uncertainty, and thus tend to select choices that are familiar (i … of risk-averse investors who select risky projects in an environment characterized by epistemic uncertainty (risk …

\ models the rankings for which the decision maker is sure. The second binary relation is an uncertainty averse preference, as … representing $\succsim^{{\small \wedge}}$. In this way, we show that Bewley preferences and uncertainty averse preferences, two … different approaches in modelling decision making under Knightian uncertainty, are complementary. As a by-product, we extend the …

to be better educated and trained in how to approach decision making under uncertainty. If these quantitatively trained … players, playing the simplest game we can think of involving uncertainty and favourable odds, didn't play well, what hope is …