The phenomena of ambiguity and ambiguity aversion, introduced in Daniel Ellsberg's
seminal 1961 article, are ubiquitous in the real world and violate both the key rationality …

We study uncertainty averse preferences, that is, complete and transitive preferences that
are convex and monotone. We establish a representation result, which is at the same time …

Many violations of the independence axiom of expected utility can be traced to subjects'
attraction to risk‐free prospects. The key axiom in this paper, negative certainty …

We propose a class of multiple‐prior representations of preferences under ambiguity, where
the belief the decision‐maker (DM) uses to evaluate an uncertain prospect is the outcome of …

We use decision theory to confront uncertainty that is sufficiently broad to incorporate"
models as approximations." We presume the existence of a featured collection of what we …

We study the problem of resolving conflicting discount rates via a social choice approach.
We introduce several axioms, seeking to capture the tension between allowing for …

Starting with the seminal paper of Gilboa and Schmeidler (1989)[32] an analogy between
the maxmin approach of decision theory under ambiguity and the minimax approach of …

We propose and operationalize normative principles to guide social decisions when
individuals potentially have imprecise and heterogeneous beliefs, in addition to conflicting …

This paper examines the difference between strategic ambiguity as in game theory and
ambiguity arising in individual decisions. We identify a new, non-strategic component …

We investigate the ambiguity preferences of a unique sample of real-life policymakers at the
Paris UN climate conference (COP21). We find that policymakers are generally ambiguity …