Construct · 1 fields · 1 citations

smooth ambiguity model: a standalone construct

One name. One construct. A landmark on the map.

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Decision theory

a model separating ambiguity from attitude toward it by applying a concave function to expected utilities over a set of possible probability laws.

In decision theory, smooth ambiguity model refers to a model separating ambiguity from attitude toward it by applying a concave function to expected utilities over a set of possible probability laws. This meaning comes from Klibanoff (2005) in Econometrica.[1]

Unit
Recovery means
Measured by

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Nearby constructs

ambiguity5 fields · 6 citationsjingle · one word, five constructs attitude6 fields · 12 citationsjingle · one name, six constructs function5 fields · 6 citationsjingle · one word, five constructs

References

Klibanoff, P., Marinacci, M., & Mukerji, S. (2005). A Smooth Model of Decision Making under Ambiguity. Econometrica, 73(6), 1849-1892. https://doi.org/10.1111/j.1468-0262.2005.00640.x

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