Representing ambiguity in the laboratory using a Bingo Blower (which is transparent and not manipulable) and asking the … subset of the empirically relevant models of behaviour under ambiguity, and compare their relative explanatory and predictive …

The recent spate of theoretical models of behaviour under ambiguity can be partitioned into two sets: those involving … relatively better, suggesting that representing ambiguity through multiple priors is perceived by subjects as risk, rather than … ambiguity …

study more realistic we frame the problem as one under ambiguity, where the probabilities of the states are not known to the … decision-maker. This enables us to compare the performance of some recent theories of behaviour under ambiguity as well as …

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 …

In this paper we examine the performance of theories of decision making under uncertainty/ambiguity from the … end, we employ an innovative experimental design which enables us to reproduce ambiguity in the laboratory in a …