We survey literature on ambiguity with an emphasis on recent applications in
macroeconomics and finance. Like risk, ambiguity leads to cautious behavior and …

We consider an ambiguity averse, sophisticated decision maker facing a recurrent decision
problem where information is generated endogenously. In this context, we study self …

We model learning in a continuous-time Brownian setting where there is prior ambiguity.
The associated model of preference values robustness and is time-consistent. It is applied to …

We study the experimentation dynamics of a decision maker (DM) in a two-armed bandit
setup (Bolton and Harris in Econometrica 67 (2): 349–374, 1999), where the agent holds …

We study dynamic allocation problems for discrete time multi-armed bandits under
uncertainty, based on the the theory of nonlinear expectations. We show that, under …

A decision maker's utility depends on her action a∈ A⊂ R d and the payoff relevant state of
the world θ∈ Θ. One can define the value of acquiring new information as the difference …

A wealth of empirical evidence shows that people display opposite behaviors when deciding
whether to rely on an algorithm, even if it is inexpensive to do so and using the algorithm …

Exploration is a critical component in reinforcement learning algorithms. Exploration
exploitation trade-off is still a fundamental dilemma in reinforcement learning. The learning …

A multi-armed bandit is the simplest problem to study learning under uncertainty when
decisions affect information. A standard approach to the multi-armed bandit often gives a …

Decision making is the ability to select the best alternative from a set of candidates based on
their respective values. When the value depends on uncertain future events, this task …