This thesis deals with decision making under ambiguity. Ambiguity refers to situations in which probabilities for … studied phenomenon, then, first of all, there is an ample empirical evidence confirming ambiguity-sensitive behavior, and … nature of ambiguity-sensitive behavior in the context of static, dynamic and interpersonal decision problems. For this …

of success, expected payoffs, the level of ambiguity regarding success, and preferences to compete. I explore the effects … unique experiment design to measure ambiguity aversion, which can be modified to also control for risk aversion. A measure of … ambiguity aversion has value as individuals in labor markets have ambiguous signals about their probabilities of success in …

Bayesian updating. The essays consider, respectively, ambiguity, and information cascades, in environments in which limitations … explicitly considered.Decision making under ambiguity has been of interest to economists since the 1920's (Knight (1921), Keynes … ambiguity attitudes using a within subject design across individual choice and market environments. The evidence favors …

being outcome ambiguous and witch effects are responsible. Outcome ambiguity exists if consumers do not see an option …'s attributes as fix values but as intervals or minimum values. Although people experience outcome ambiguity in many cases little is …

ambiguity is inconsistent with Savage's theory. Chapter 3 examines the value of information when preference conforms to multiple … can lead to nonexistence of equilibria and other modeling difficulties. I show that introduction of ambiguity into a …