are information seeking otherwise. Because belief updating depends on the decision problem in which new information is …

This paper focuses on information acquisition and individual decision making in ambiguous situations and presents a …, subjects can reduce or even eliminate the ambiguity and turn the decision situation into one of risk. Under the assumption that … an ambiguity averse subject should reduce ambiguity within a decision process we predicted that these subjects would …

We present the first calibration of quantum decision theory (QDT) to an empirical data set. The data comprise 91 …. The prediction of choice reversal is then refined by introducing heterogeneity between decision makers through a … differentiation of the population into two similar sized groups in terms of "over-confident" and "contrarian" decision makers. This …

This paper analyzes dynamic choice for ambiguity-sensitive decision makers. It demonstrates that unambiguous behavioral … predictions can be obtained, even in the face of dynamic inconsistency, by taking the individual's preferences over decision trees … assumption about the way individuals resolve conflicts between preferences at different decision points. The main result employs …

We present a preference foundation for Chance Theory (CT), a model of decision making under uncertainty where the … rationality principles like first-order stochastic dominance or transitivity. Decision makers with CT-preferences always prefer …

experiment where the decision maker draws twice with replacement in the typical Ellsberg two-color urns, but with a different … utility all predict unequivocally that risk-averse decision makers (DMs) will avoid the 50 - 50 urn that exhibits the highest …

ambiguous decision tasks, where a subject faces two-stage lotteries with binomial, uniform or unknown second-order probabilities …

aversion. This paper obtains a joint representation for these behavioral phenomena. The decision maker as portrayed by my model …. This set is interpreted as a collection of the decision maker's possible future beliefs. When choices cannot be deferred …, the decision maker evaluates every uncertain prospect via an epsilon-mixture of the least favorable element in the set …