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...

ver descrição completa

Detalhes bibliográficos
Principais autores: Mukerji, S, Tallon, J
Formato: Working paper
Publicado em: University of Oxford 2002