Ellsberg's 2-color experiment, bid-ask behavior and ambiguity
Results in this note relate the observation of an interval of prices at which a DM strictly prefers to hold a zero position on an asset (termed 'bid-ask behavior') to the DM's perception of the underlying payoff relevant events as ambiguous, as the term is defined in Epstein and Zhang...
| Автори: | , |
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| Формат: | Working paper |
| Опубліковано: |
University of Oxford
2002
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