Hey, John D; Lotito, Gianna; Maffioletti, Anna - Department of Economics and Related Studies, University … - 2007
There is a large theoretical literature in both economics and psychology on decision making under ambiguity (as … design, in which we create genuine ambiguity in the laboratory and can control the amount of ambiguity, we generate data … how the fit changes when we vary the ambiguity. We find that the Choquet formulation performs best overall, though it is …