Ambiguity aversion and the absence of indexed debt
If agent's (subjective) beliefs are ambiguous then the beliefs may not be represented by a unique probability distribution in the standard Bayesian fashion but instead by a set of probabilities. Roughly put, an ambiguity averse decision maker evaluates an act by the minimum expected value that...
Κύριοι συγγραφείς: | , |
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Μορφή: | Working paper |
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University of Oxford
2000
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