Definitions of ambiguous events and the smooth ambiguity model

We examine a variety of preference-based definitions of ambiguous events in the context of the smooth ambiguity model. We first consider the definition proposed in Klibanoff, Marinacci, and Mukerji (2005) based on the classic Ellsberg two-urn paradox (Ellsberg (1961)), and show that it satisfies se...

Szczegółowa specyfikacja

Opis bibliograficzny
Główni autorzy: Mukerji, S, Klibanoff, P, Marinacci, M
Format: Working paper
Wydane: University of Oxford 2011