Robust control theory is a tool for assessing decision rules when a decision maker distrusts either the specification … of transition laws or the distribution of hidden state variables or both. Specification doubts inspire the decision maker … to want a decision rule to work well for a ∅ of models surrounding his approximating stochastic model. We relate robust …

utility all predict unequivocally that risk-averse decision makers (DMs) will avoid the 50 - 50 urn that exhibits the highest …Prominent models such as maxmin expected utility/alpha-multiprior (MEU/ a -MP) and Klibanoff, Marinacci, and Mukerji … experiment where the decision maker draws twice with replacement in the typical Ellsberg two-color urns, but with a different …