A Survey of Some Applications of the Idea of Ambiguity Aversion in Economics.
Subjective uncertainty is characterized by ambiguity if the decision maker has an imprecise knowledge of the probabilities of payoff relevant events. In such an instance, the decision maker's beliefs are better represented by a set of probability functions than by a unique probability function....
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| Format: | Journal article |
| Language: | English |
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Elsevier
2000
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